The Reef

JLL is pleased to present The Reef Apartments, a 180-unit core-plus apartment community in the premier Milwaukee suburb of Wauwatosa. An investor has the opportunity to increase rents at the property both organically and through value-add. The property has performed exceptionally well maintaining average occupancy of 99% over the last 2 years and is achieving 16% rent growth on new leases over the last 3 months. Additional upside may be achieved through expanding the community amenities and via interior upgrades. Since delivering in 2016, this property has consistently boasted a Top 10 ORA Rating for the state. The Reef offers two building styles— stacked flats and apartments—and a range of floor plans from efficient studios with built-ins to spacious three bedrooms with private entries and attached garages. The 9-acre site bordering pre-historic Schoonmaker Coral Reef features a clubhouse and leasing center, an oversized heated pool with sundeck, and a dog park. Situated in beloved “Tosa” Village, The Reef is walkable to three grocery stores and quaint dining, shopping, and community events. The Reef is also a short 7-minute drive to the Milwaukee Regional Medical Center (“MRMC”) and the Milwaukee County Research Park, which is home to GE Healthcare. Not surprising, one-third of Reef residents work at one of the six healthcare institutions at the MRMC. Beyond healthcare, residents benefit from a quick commute to top downtown employers including Northwestern Mutual, Fiserv, and Milwaukee Tool. This unbeatable opportunity is available free and clear.