shorewood
Find On Facebook

News


MANDEL GROUP ACQUIRES 340 UNIT DOWNTOWN WAUKESHA PROPERTY

5/24/2012 - Milwaukee-based developer Mandel Group, Inc. announced its acquisition of Rivers
Edge Apartments, a 340-unit apartment community located in downtown Waukesha, Wisconsin.

The acquisition was completed by Rivers Edge Equity LLC, an affiliate of Mandel Group. The seller was Rivers Edge of Waukesha LP, Rivers Edge II LLC and Rivers Edge III, LLC, formed by Waukesha developer Bryce Styza. The transaction value was not disclosed.

“The property is appealing to us because of its excellent condition and high occupancy rate”,commented Don Lindeman, President of Mandel Property Services, Inc.

“While we will be investing in
upgrades and freshening up the property, the base we’re working from is in exceptional condition.”

Financing was secured through Grandbridge Real Estate Capital. James M. Cope, Senior Vice President for Grandbridge managed the transaction.
Mandel Property Services, Inc. (MPSI) has assumed responsibility for property management and operations of Rivers Edge.

“With the acquisition of Rivers Edge, Mandel has now purchased nearly
2,000 units in recent years, including assets in Madison as well as the greater Milwaukee area.”
Lindeman added, “We are eager to continue our acquisition strategy and excited to bring the Mandel
brand of quality and service to Waukesha, becoming a member of that vibrant community.”

Mandel was attracted to the property in part due to its high “WalkScore” rating of 88 on a scale of 100. WalkScore is a real estate software app that measures accessibility of neighborhood goods, services, and entertainment venues that can be readily reached without the need of driving.

“We’ve been drawn to WalkScore after finding that all the major institutional investors are now heavily reliant on the app for property qualification” explained Barry R. Mandel, President of Mandel Group, Inc.

“We are focused on forward-looking purchases from which the value will be readily apparent 20 years from
today.”

Walkability is considered a key determinant of property valuations in the coming years by real estate researchers, academicians and institutional investors.

News Articles

He Built this City

CRE Guide: Community Spotlight - Shorewood

Mandel Group Announces Sellouts at Two Condominium Developments

UWM's Innovation Center in Wauwatosa moving forward

Mandel Group Honored for Fire Rescue of Elderly Couple

Milwaukee and state officials talk unity at North End groundbreaking

MANDEL GROUP ACQUIRES 340 UNIT DOWNTOWN WAUKESHA PROPERTY

BOMA 2012 AWARDS Mandel Group Apartment Portfolio Wins Seven Awards for Excellence

CARW ANNOUNCES 2012 CRE DEAL OF THE YEAR AWARDS

Bay working out tax incremental financing details for Mandel luxury apartments

Mandel proposes apartments in Whitefish Bay

The Corners public financing plan wins initial OK

Mandel wants to raze four historic Wauwatosa buildings, preserve one

Dreamscape: Developers pitch ideas for Park East corridor

Mandel Apartments Slated for February Groundbreaking

Mandel Group hopes to start Domus project next year

$4.6 Million in Public Funds OK'd for Mandel Apartment Project

SVP of Milwaukee’s The Mandel Group earns top position with NAIOP Wisconsin

The Marcus Corporation Selects Mandel Group as Residential Consultant for The Corners of Brookfield

Forest Exploration Center Raising Money

Panel OKs Mandel's Brookfield Apartment Plan after Downsizing

Final Apartment Plans for Towne Centre a Compromise in Brookfield

Lighthorse 4041 Recieves Urban Planning Award from Wisconsin Planning Association

Mandel Plans Lakefront High-Rise

Barry Mandel: A visionary in Milwaukee

Eschweiler residential development is well worth an investment by the city

Prospects take shape in and around Eischweiler buildings in Wauwatosa

Specialty grocer in works for Park East's North End development

Mandel charts 250 apartments, two buildings for North End's final phase

Fresh Thyme Farmers Market to open store at North End

Mandel Group completes lease-up of North End's second phase, Shorewood project

Milwaukee OKs money for North End riverwalk, dockwall work

Mandel shoots for mid-2014 construction start for North Avenue apartments, climbing wall

Mandel Group is a Proud Sponsor - YP Week

30 Million Apartment Project Given First City Approval

Mandel Group's plate overflows with apartment projects

Mandel apartments, rock climbing facility on North Avenue approved

2014 Mayor’s Design Awards

Mandel's 3rd Ward apartment, river walk designs get plan commission approval

Developer Barry Mandel says building Milwaukee takes more than concrete

Construction to begin on third phase of North End, Fresh Thyme grocery

Mandel Group provides free space for creative companies

Third Ward redevelopment lands firm as anchor tenant

A NEW VIEW OF THE RIVER

RiverCrest Condominiums Groundbreaking

10/16/04 RiverCrest Model Grand Opening

North Avenue Dam Pedestrian Bridge

MANDEL GROUP COMPLETES FINANCING FOR NORTH END AND LIGHTHORSE DEVELOPMENTS

Pile Driving Begins at The North End

North End project to assist minority-owned businesses

SBT AROUND TOWN: PFISTER AND VOGEL SLIDE SHOW

Funding proposed for Park East development

Getting Away to Milwaukee