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Affiliate of New Land Enterprises secures $98m in financing for Milwaukee apartment tower
Transactions - FEBRUARY 12, 2024

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Affiliate of New Land Enterprises secures $98m in financing for Milwaukee apartment tower

by RELEASED

An affiliate of New Land Enterprises announced that it secured $98 million in refinancing for Ascent MKE, a 25-story, 259-unit luxury apartment tower in Milwaukee. The property serves as the tallest mass timber-and-concrete hybrid building in the world, offers a best-in-class amenity package and is in the heart of downtown Milwaukee.

JLL worked on behalf of the borrower to secure the three-year, floating-rate loan provided by Barings Real Estate.

Built in 2022, Ascent MKE features one-, two- and three-bedroom units, averaging 1,055 square feet, that include smart-home technology, granite countertops, in-unit washers and dryer, floor-to-ceiling windows, stainless-steel appliances, heated floors and private balconies and patios. Community amenities include two outdoor rooftop decks with Lake Michigan and downtown views, a 24-hour fitness center, a sauna, a golf and multi-sport simulator, a business center, a rooftop cinema, EV-charging stations, a fitness studio, an indo

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