$10.6M Private Equity Offering For Milwaukee Suburb Multifamily Development Fully Pledged

Investors on the real estate crowdfunding platform RealtyMogul have pledged the full amount being raised for a Class-A multifamily housing development just outside of Milwaukee, Wisconsin.

Lakeshore Commons Apartments is a 199-unit luxury apartment community that will be one of a three-phase master-planned development on the shore of Lake Michigan.

Lakeshore Commons Apartments will offer renters a unique combination of high level amenities, coastal access and proximity to Milwaukee. The entire project is part of a long-term partnership between the city of Oak Creek and the Wisconsin Department of Natural Resources to beautify and add value to the Wisconsin Shoreline.

Lakeshore Commons is being sponsored by F-Street Development Group with Rinka Design, who handled the architecture and aesthetic side of the project. F-Street is raising $10,660,000 from investors, who will receive equity in the project. The development has a total budget of $47,235,000.

F-Street’s ultimate plan is to complete Lakeshore Commons and sell it for upwards of $69 million in 2026.

Investment Highlights: F-Street plans to begin making monthly distributions to investors in January 2024. The first units are scheduled to be ready for occupancy in July 2023.

• Minimum investment: $35,000
• Anticipated hold period: 5 years
• Targeted internal rate of return (IRR): 20.2%
• Targeted equity multiple: 2.8x

Investors that are still interested in funding the project can join a waitlist through the RealtyMogul platform.

View a full list of available real estate investment offerings through RealtyMogul and other private equity investment platforms through Benzinga Alternative Investments.

Photo: Courtesy of RealtyMogul