MLG Capital has acquired three properties in the Milwaukee area from Inland Real Estate Group, according to Yardi Matrix data. Trostel Square, Norhardt Crossing and Norhardt Apartments comprise a total of 310 apartments.
Trostel Square consists of two three-story buildings spread across 2.5 acres. Completed in 2002, the property has 99 units with one- and two-bedroom floorplans, ranging between 772 and 1,346 square feet. Common-area amenities include a fitness center, clubhouse and business center.
Located at 1818 N. Commerce St., the community is close to several dining options, while Downtown Milwaukee is 1.3 miles south. The other two multifamily assets are some 15 miles west.
Norhardt Crossing and Norhardt Apartments—located at 1930 and 1995 Norhardt Drive—are within walking distance of each other and Ruby Isle shopping mall, while Brownstones Shopping Center is 1.5 miles away.
Norhardt Crossing comprises 139 apartments and townhomes with one- and two-bedroom floorplans, ranging from 837 to 1,340 square feet. Completed in 2001, the community consists of 9 buildings spread across 7.2 acres.
Norhardt Apartments includes four buildings. The 5.5-acre community encompasses 72 garden-style apartments with the same bedroom floorplans, but which vary between 700 and 1,000 square feet. The two communities share the common-area amenities, consisting of a fitness center, clubhouse and a swimming pool.
Earlier this year, MLG Capital acquired Market Square, a 330-unit community in Kenosha, Wis. The property was purchased through the firm’s Legacy Fund, which surpasses $1 billion in assets.
