Home Industries Real Estate Downtown Waukesha apartment building sold for $13.8 million

Downtown Waukesha apartment building sold for $13.8 million

By
Cara Spoto
-
Clearpoint Apartments in downtown Waukesha has sold to a Milwaukee real estate investment firm for $13.8 million. (Photo courtesy of Realtor.com)

Clearpoint Apartments in downtown Waukesha has been sold to a Milwaukee real estate investment firm for $13.8 million, according to state records. The 64-unit apartment building at 220 W. Main St. was sold by an affiliate of Brookfield-based Sterling Investment Real Estate LLC to an affiliate of LCM Funds Real Estate LLC, a private equity

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Cara Spoto
Cara Spoto, former BizTimes Milwaukee reporter.

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Clearpoint Apartments in downtown Waukesha has been sold to a Milwaukee real estate investment firm for $13.8 million, according to state records. The 64-unit apartment building at 220 W. Main St. was sold by an affiliate of Brookfield-based Sterling Investment Real Estate LLC to an affiliate of LCM Funds Real Estate LLC, a private equity real estate company. LCM's portfolio includes industrial, office and apartment buildings. Constructed between 2017 and 2018, Clearpoint Apartments replaced a long vacant parcel of land, and began officially leasing apartments in November 2018. Sterling Investments Real Estate was promised $1.3 million in tax incremental financing district incentives from the city in late 2016 to develop the building. The company had previously constructed the Waukesha Lofts at 456 W. Main St.

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