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Inland Private Takes Milwaukee Multifamily DST Full-Cycle

Inland Private Takes Milwaukee Multifamily DST Full-Cycle. Alternative investments, Inland, Inland Private, Inland Private Capital Corporation, INVEST, investment, investors, IPC
Inland Private Takes Milwaukee Multifamily DST Full-Cycle. Alternative investments, Inland, Inland Private, Inland Private Capital Corporation, INVEST, investment, investors, IPC

Inland Private Capital Corporation, a privately held alternative investment management firm and a member of The Inland Real Estate Group of Companies Inc., announced the sale of three multifamily communities in Milwaukee and Brookfield, Wisconsin.

Inland Private facilitated the sale of the properties on behalf of Milwaukee MSA Multifamily Portfolio DST, one of the company’s 1031 exchange investment programs. The offering, launched in 2016, raised approximately $30.7 million from accredited investors.

The company says the sale resulted in a total return to investors of 154.52%, (calculations are based on the aggregate amount of original capital invested in the properties), or an internal rate of return equal to 7.01%.

Trostel Square Apartments, at 1818 North Commerce Street in Milwaukee, consists of 99 units across two residential buildings. Located in Milwaukee’s Brewer’s Hill neighborhood on the banks of the Milwaukee River, the property features a clubhouse with a fitness center, business center and clubroom, as well as garage parking and nearby access to shops, restaurants, breweries and cafes. As of the date of the sale, Trostel Square was 93% occupied.

In Brookfield, Norhardt Apartment Homes, at 1995-2145 Norhardt Drive, is a 72-unit property comprised of four two-story residential buildings and six detached garages. Nearby Norhardt Crossing, at 1930 Norhardt Drive, is a 139-unit property consisting of 10 residential buildings and one clubhouse featuring a fitness center, business center, community center and outdoor pool. As of the date of the sale, both properties were over 94% occupied.

“Milwaukee MSA Multifamily Portfolio DST marks the 25th full-cycle transaction on behalf of our multifamily investment platform,” said Keith Lampi, president and chief executive officer of IPC. “We purchased the properties in 2016, and through proactive asset management, the portfolio generated consistent cash flow and provided a substantial profit on sale, resulting in a 7.01% internal rate of return to investors.”

The company says that this transaction provided liquidity to investors, while also providing investors with the option to utilize their sales proceeds to complete a subsequent tax-deferred exchange. In 2023, Inland Private says it has monetized approximately $193 million in real estate on behalf of its 1031 exchange platform.

Inland Private Capital specializes in offering multiple-owner, tax-focused, private placement investments as well as qualified opportunity zone investments throughout the U.S. Since inception, IPC has monetized approximately $3.9 billion in full-cycle transactions on behalf of its investors. Currently, the company manages a portfolio of more than $12.2 billion across several asset classes spanning 43 states.

For more Inland Private Capital news, please visit their directory page.