Grand Wisconsin

VALUE ADDED BY INTERWEST CAPITAL

Interwest acquired this nonperforming loan in receivership with an absentee borrower over a compressed time period during the holiday season. Further obstacles included a complicated redemption period/foreclosure process and a defunct historic tax credit structure which Interwest restructured to avoid a recapture penalty on behalf of the tax credit investor.

Address

720 N. Old World Third, Milwaukee, WI 53203

Size

108 Apartments

Acquisition Type

Real Estate. Loan. Subsequent foreclosure to fee ownership.

Status

In Portfolio

Description

Originally built in 1913 as a hotel, this 12 story historic building underwent a $23mm gut-renovation to highly-amenitized apartments in 2007. The property is located in the Milwaukee Riverwalk district of downtown.

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