The Kirkland, Washington-based apartment owner who entered the Milwaukee market last month with two multi-million dollar purchases has bought another large apartment complex on Milwaukee’s northwest side.
Weidner Apartment Homes purchased the St. James Place Apartments, 10000-10590 W. Fountain Ave., for $24.5 million, according to state records. The complex is located off of Highway 41, between Good Hope Road and West Bradley Road.
Weidner bought the complex from an affiliate for Milwaukee-based Fiduciary Real Estate Development, Inc. Last month, Fiduciary sold Weidner the Arbor Ridge Apartments in the 7900 block of 107th Street for $16.6 million.
Weidner also purchased the Sunset Ridge Apartments in the 8100 block of 107th Street for $12.6 million from a subsidiary of Milwaukee-based Mandel Group in October.
According to a 2015 article by Bloomberg, Weidner Apartment Homes was founded by billionaire Dean Weidner, 74, and had a net asset value of $2.3 billion in 2015.
In 2015, the firm had more than 38,000 apartment units mainly in Phoenix, Tucson, Seattle, Anchorage, Colorado.
