24-unit luxury apartment building in Brookfield sold for $6.75 million

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A mixed-use, multifamily property in Brookfield has changed ownership.

Milwaukee-based Revel Investments on Oct. 10 sold Six65 Brookfield, located at 665 N. Brookfield Road, to California-based investor Walter Gonzalez for $6.75 million, state records showed. The building includes a 24-unit apartment building and a 3-unit mixed-use property, Colliers officials said.

The transaction was made with a 1031 exchange, which lets investors defer capital gains when they sell a property and reinvest in a similar property. Ted Stratman, senior vice president of Collier’s Wisconsin office and Tyler Hague, executive vice president of Collier’s Chicago office, led the transaction.

Colliers led a marketing campaign and attracted interest from local, regional and national investors, officials said.

“Six65 Brookfield generated significant interest and multiple offers from investors across the country, highlighting continued investor confidence in the Milwaukee suburbs and Wisconsin as a whole,” Stratman said in a statement.

Brookfield-based Altius Building Company was the construction manager for the more than 36,000-square-foot 24-unit, mixed-use property. An existing building adjacent to the three-story building’s site was renovated and is home to a bakery, offices and apartments. The project was delivered in 2022, Colliers officials said.