Northmarq secures $19.8M sale and financing for 150-unit garden apartments in Milwaukee

MILWAUKEE — Northmarq’s Midwest Multifamily Investment Sales team of Alex Malzone, Parker Stewart, Dominic Martinez and Jake Lamb arranged the $19.8 million sale of Lofts at Layton, a 150-unit garden-style apartment community located at 4602 S. 20th Street in Milwaukee, Wisconsin.

Northmarq represented the seller, a small group of local investors. Northmarq’s Debt + Equity team, led by Brett Hood, secured financing for the buyer, Bender Companies.

The property was built in 1969 and features spacious two- and three-bedroom units averaging 1,000 square feet.

“Lofts at Layton is a great opportunity for Bender to expand its presence in Milwaukee, which has been achieving some of the highest rent growth in the country in 2025,” said Malzone. “Congratulations to both the buyer and the seller.”

Lofts at Layton has undergone nearly $5 million in capital improvements since 2022, including interior renovations, balcony replacements and upgraded amenities such as a dog park and playground. Approximately 70% of the units have been renovated with white cabinetry, granite countertops, hardwood-style flooring, and updated lighting and fixtures.

The property benefits from its proximity to Milwaukee Mitchell International Airport, the Mitchell Interchange, and major employers such as GE Healthcare, Aurora Health Care and FedEx, positioning it well for continued rent growth and high occupancy.