Mandel Group Inc. has purchased 36 acres of vacant land in Oconomowoc at Pabst Farms, a site where the Milwaukee-based developer plans to construct 315 apartments.
The land is located north of where Valley Road meets Gold Medal Drive. The Pabst Farms apartments will be spread across 25 buildings. They will consist of 111 one-bedroom, 148 two-bedroom and 30 three-bedroom units, plus 26 three-bedroom townhouse-style units. Also included is a 4,000-square-foot clubhouse with leasing and maintenance offices, a gym and a club room.
Land to the west is marked for commercial development, though no specific plans are in place there.
Pabst Farms is a 1,500-acre development located on former farmland in Oconomowoc. It includes residential neighborhoods, retail, hotels, an industrial park and a hospital.
Buyer: Polly’s Washtub Land South LLC, registered to Mandel Group
Seller: Pabst Farms Land Co. II LLC, registered to William Niemann of Pabst Farms Development Inc.
Price: $3.45 million
Size: 36 acres
