Historic apartments sell in Wisconsin

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Marcus & Millichap completed the sale of The Blatz Apartments in Milwaukee, Wis., a property listed on the National Register of Historic Places. The value of the transaction was $21.5 million. The 169-unit apartment complex was built in 1906 as the Blatz Brewery and converted into apartments in 1986. The property totals 186,638 rentable square feet and the unit mix consists of two studios, 57 one-bedroom apartments, 105 two-bedroom units, four three-bedroom floor plans and one 2,488-square foot penthouse. The building features concierge service, hair salons, two fitness centers, a 25-meter lap pool, Whirlpool, sauna, locker rooms, basketball court, putting green, golf driving stations, guest suites, community room and a 360-space parking garage. Neither the buyer or seller's identity was disclosed. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide. *** What's your opinion? Send your Letter to the Editor to opinion@inman....