JLL Capital Markets closed the sale of the 274-unit mid-rise Vim + Vigor

CHICAGO, July 28, 2021 – JLL Capital Markets announced today that it has closed the $53 million sale of Vim + Vigor, a new, 274-unit, mid-rise multi-housing community in the Brewery District of Milwaukee, Wisconsin. 

JLL marketed the property on behalf of the seller, Milhaus Development and The Davis Companies. Weidner Apartment Homes acquired the property. 

Vim + Vigor was completed in 2019 and was over 90 percent leased at closing. The property comprises two buildings with apartment studio, one-, two- and three-bedroom units ranging from 376 to 1,340 square feet, as well as 7,050 square feet of ground-floor retail, a 237-space parking garage with additional surface parking and an expansive building amenities package. The apartments feature a range of floor plans, 9-to-100-foot ceiling heights, stylish kitchen designs with stainless steel appliances and quartz countertops, high-end bathroom finishes, wood- and concrete-style flooring, abundant in-unit storage spaces, patios and balconies and full-sized in-unit washers and dryers. The community offers a courtyard with grills and fire pit, conference rooms, home brewing studio, and 24/7 fitness center with yoga and Pilates studio. The buildings are enhanced with key-fobbed access and new technology systems throughout. 

Located at 1303 North 10th St. and 926 West Juneau Ave., Vim + Vigor is in Milwaukee’s thriving Brewery District, the site of the former Pabst Brewing Company. Situated between I-43 and Fiserv Forum and the Deer District, the now vibrant mixed-use neighborhood embraces a celebrated past, sustainability and modern urbanism to create an authentic live-work-play neighborhood radiating old world charm. Residents enjoy a fully walkable neighborhood, with easy access to surrounding universities, sporting/concert venues, employers, major highways and some of the best local shopping, dining and entertainment in Milwaukee. Everything in Milwaukee’s sought-after Whitestown neighborhood is within a 20-minute walk of the property.

The JLL Capital Markets investment sales advisory team that represented the seller was led by Senior Director Wick Kirby and Director Amanda Friant, along with Senior Managing Director Jaime Fink.

CHARLOTTE – JLL Capital Markets announced today it has closed the $65.9 million sale of Lodge at Croasdaile Farm, a 320-unit, garden-style and townhome apartment community in the North Durham submarket of Durham, North Carolina.

JLL marketed the property on behalf of the seller, a joint venture between Boston-based The Davis Companies and Gemini Partners, LLC, and procured the buyer, Virginia-based RST Development, which assumed management operations under its affiliate, Hercules Living.

The Lodge at Croasdaile Farm is situated on nearly 40 acres at 3130 Hillandale Road within the Croasdaile Farm master-planned community, which features a median home price of nearly $525,000. Completed in 2019, the three-phase property consists of a mix of one-, two- and three-bedroom garden-style flats and two- and three-bedroom townhome units totaling 340,160 rentable square feet. Community amenities include a resort-style saltwater pool, outdoor grilling areas, resident lounge with community kitchen and coffee bar, fitness center with yoga space, outdoor pavilion with games, private gardens and a leash-free bark park. Residents also have direct access to premium lifestyle amenities, including Croasdaile’s extensive paved greenway system and the trails surrounding Crystal Lake, as well as access to nearby Interstate 85, which provides connectivity to the MSA’s largest employers in Downtown Durham, Duke University and Duke Medical Center. 

The JLL Capital Markets team representing the seller was led by Managing Directors Jeff Glenn and Andrea Howard, Senior Director Allan Lynch, Directors Caylor Mark and John Currin along with former Managing Director Justin Good.

“Recent deliveries in the Durham sub-market are urban infill developments,” said Blair Booth, one of the development partners involved with the project. “The cost to deliver and rent these projects have priced out a large portion of the rental demographic. Our goal was to develop a close-in, Class A property with competitive finishes at a cost and price point well below our infill competitors. The vigorous lease-up and strong rental rates exceeded our expectations and supported the need for quality workforce housing in Durham.”

NEW YORK, NY – March 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured joint venture equity and construction financing for the development of https://168plymouth.com/, a 46-unit boutique condominium conversion located on the southwest corner of Plymouth and Jay Streets in DUMBO, Brooklyn.

HFF worked on behalf of the developer, Alloy Development, to arrange a joint venture with The Davis Companies.  Working on behalf of the new partnership, HFF also secured construction financing from Bank OZK.

168 Plymouth will be situated in the heart of DUMBO and down the block from its 85-acre waterfront park.  168 Plymouth will include lofts, townhouses and penthouses.  Residences will feature modern industrial design, which will both honor the history of the neighborhood and the building itself.  The project connects two of Dumbo’s last remaining classic industrial loft buildings to be developed into a single address.  The distinct styles of the two original buildings, one brick-and-timber and the other concrete with daylight factory windows, will be preserved in the design of the residences.

168 Plymouth marks Alloy’s 5th project in Dumbo.  The firm’s other award-winning projects in the neighborhood include 192 Water Street, 185 Plymouth Street, Dumbo Townhouses and One John Street.

The HFF debt and equity placement team included managing directors Christopher Peck, David Giancola and Jeff Julien, senior director Peter Rotchford and analyst Kristen Knapp.

“The thoughtful aesthetic and community focus that Alloy brings to development has helped transform DUMBO into the neighborhood it is today,” Peck said.  “It was a privilege to work with them to help identify the optimal capitalization as they add to their legacy of transformative projects in the area.”