ONMILWAUKEE

This has been a bad year for churches designed by architects Brust & Brust.

Over the past few months, St. Bernard in Wauwatosa Village – built in 1955 – came down remarkably quickly, especially considering that former Brust employee and later buyer of the firm, Gary Zimmerman, says the firm’s churches were built like battleships.

Next to fall is Brust & Brust’s St. Aloysius, 1405 S. 92nd St., in West Allis, which was completed in 1957.

Both sites will be filled with apartments. While the ones in Tosa are already underway, clearance of the West Allis site has not yet begun.

The parish was merged, along with two others – Immaculate Heart of Mary and Mary Queen of Heaven – into Mother of Perpetual Help Congregation in 2018 and they all began worshipping at one building, 2322 S. 106th St., three years later.

(A second site at 1121 S. 116th St. includes a secondary worship site, Mary Queen of Saints Catholic Academy, parish offices and an outreach center.)

St. Aloysius hosted its final Mass in May 2021. The school had closed a year earlier.

At that time, Cardinal Capital Management purchased the site, but its plans for the site did not move quickly enough, and now F Street is in the process of buying the site via the City of West Allis.

“The idea is that all the existing buildings will come down and then working our way from the south to the north, we would probably do two-story garden-style apartments,” says F Street’s Director of Project Delivery E. J. Herr. “Those would be walkups with garages and things like that.”

One row of the houses would face 92nd Street and the other, at its back, would face 93rd.

“We’re working with Rinka Architects right now, developing the site plan,” Herr says. “We have preliminary diagrams of how things are to layout, but it’s still pretty early on. Right now we’re looking at about 52 units between those two (garden-style) buildings and another 100 units in the multi-family.”

It’s possible that some of the units could be used as student athlete housing for a nearby college, Herr says.

Read more

MILWAUKEE BUSINESS JOURNAL

Milwaukee real estate firm F Street is taking over the planned redevelopment of a former church site and adjacent properties in West Allis under a plan to transform the site into housing.

The former St. Aloysius church at 1405 S. 92nd St. has been vacant for nearly four years after the parish merged with two other congregations. The city has sought to remove the blighted former church building and replace it with a development such as housing that could help grow the city’s tax base.

F Street, which will be conveyed equitable title to the property by the CDA, is planning a multifamily apartment development that’s expected to increase the site’s assessed value to at least $28.88 million, according to the CDA documents.

The conceptual plan from F Street calls for a $40 million project with 54 townhomes and a 100-unit apartment building with underground parking, Schloss said.

“We think F Street is a reliable, proven developer,” Schloss said.

Read more

PRESS RELEASE

Milwaukee, WI (January 17, 2025) — Coast Apartments, a modern luxury community located in Lakeshore Commons, has been awarded Gold by the Associated Builders and Contractors (ABC) of Wisconsin in their prestigious Projects of Distinction competition. This award recognizes the exceptional quality and professionalism demonstrated in the construction of this unique development.

The Projects of Distinction competition celebrates the outstanding achievements of ABC of Wisconsin member companies and highlights the value of merit construction. Coast Apartments, with its striking design, high-quality finishes, and impressive amenities, exemplifies the principles of excellence and professionalism that ABC of Wisconsin champions.

Despite the challenges posed by coastal weather conditions, the project was completed ahead of schedule, demonstrating the team’s resilience and dedication to exceeding expectations.

About Coast Apartments:

Located in the Lakeshore Commons community, Coast Apartments offers a luxurious living experience with stunning lakefront views. The community features a range of modern amenities, including a spacious club room, a state-of-the-art fitness center, a resort-style pool, and expansive outdoor green spaces.

About ABC of Wisconsin:

ABC of Wisconsin is a leading construction trade association representing merit shop contractors throughout the state. The organization promotes the principles of free enterprise and works to ensure a fair and competitive environment for its members.

About F Street

F Street is a premier real estate investment and development firm headquartered in Milwaukee, Wisconsin. The company specializes in the acquisition and development of high-quality commercial and residential properties in Wisconsin and beyond. F Street is committed to creating dynamic and sustainable communities that enrich the lives of residents and contribute to the economic vitality of the regions it serves.

PRESS RELEASE

Milwaukee, WI (October 20, 2024) — F Street, is pleased to announce the successful completion of its capital raise for the Summit Apartments Phase 1 project. The $6,450,000 equity requirement has been fully funded, paving the way for the next phase of development.

F Street would like to extend its sincere gratitude to the project collaborators, including RINKA, Stevens Construction, Summit Credit Union, and the City of Oak Creek, for their invaluable contributions to the project’s success.

In conjunction with this announcement, F Street is excited to launch the capital raise for F Street OCLV MF 3, the second phase of the Summit Apartments development. This new investment opportunity offers investors the chance to participate in the construction of a $6,350,000 project that will begin in March 2025.

“We are thrilled to have achieved full funding for F Street OCLV MF 2 and to be launching the capital raise for F Street OCLV MF 3,” said Scott Lurie, Founder of F Street. “This continued success is a testament to the strength of our investment strategy and the confidence of our investors in our ability to deliver exceptional multifamily projects.”

F Street remains committed to its mission of creating vibrant, sustainable communities. The Summit Apartments project is a key component of the company’s ongoing development efforts in the Lakeshore Commons area of Oak Creek, WI.

For more information about F Street OCLV MF 3 and the investment opportunities available, please visit www.fstreet.com or contact the F Street team.

About F Street

F Street is a premier real estate investment and development firm headquartered in Milwaukee, Wisconsin. The company specializes in the acquisition and development of high-quality commercial and residential properties in Wisconsin and beyond. F Street is committed to creating dynamic and sustainable communities that enrich the lives of residents and contribute to the economic vitality of the regions it serves.

www.fstreet.com

 

###

 

Media Contact:

Nick Jung
Director of Development
nick@fstreet.com
(612) 810-7023

PRESS RELEASE

Milwaukee, WI (October 11, 2024) — F Street, a leading real estate investment development firm, is pleased to announce the successful closing of its capital raise for F Street BD 2, LLC. The investment, totaling $11.15 million, will fund the construction of the new Village 43 Apartments project in Brown Deer, Wisconsin.

“We are thrilled to have reached this significant raise milestone for Village 43 Apartments and to be starting on another multifamily project in Brown Deer,” said Scott Lurie, Founder at F Street. “This successful capital raise is a testament to the strength of our project, the confidence of our investors, and our team’s ability to deliver exceptional real estate developments.”

The Village 43 Apartments project will bring 156 garden-style apartments to the Brown Deer community. The development will feature a large club room, fitness center, dog spa and run area, and active outdoor space.

The groundbreaking ceremony for Village 43 Apartments is scheduled for Thursday, October 17th.

F Street would like to express its gratitude to its project partners, including RINKA, Greenfire Management Services, First American Bank, and its investors for their support in making this project a reality.

About F Street

F Street is a premier real estate investment and development firm headquartered in Milwaukee, Wisconsin. The company specializes in the acquisition and development of high-quality commercial and residential properties in Wisconsin and beyond. F Street is committed to creating dynamic and sustainable communities that enrich the lives of residents and contribute to the economic vitality of the regions it serves.

www.fstreet.com

 

###

 

Media Contact:

Nick Jung
Director of Development
nick@fstreet.com
(612) 810-7023

PRESS RELEASE

Milwaukee, WI (May 28, 2024) – F Street is thrilled to announce the public launch of F Street OCLV MF 2, LLC, the entity behind the highly anticipated Summit apartments in Oak Creek, Wisconsin.

Secure Your Spot in a Thriving Community

Summit apartments offers an unparalleled opportunity to invest in a brand-new, market-rate apartment community boasting 132 units across two buildings. Residents will enjoy stunning views of Lake Michigan, along with convenient access to nearby parks and recreational opportunities.

Building on Success: The Coast at Lakeshore Commons

The first phase of Lakeshore Commons, the 199-unit Coast apartments, has already achieved remarkable success:

• Construction completed in December 2023.
• As of May 1, 2024, nearly 70% occupied, exceeding leasing projections.
• Full occupancy anticipated by July 2024.
• Learn more in the whitepaper (link to whitepaper).

Why Invest in Oak Creek?

• Strong Housing Market: Oak Creek’s proximity to Milwaukee and the Kenosha/Racine corridor fosters a robust and growing housing market.
• Investment in Infrastructure: The city prioritizes public schools and infrastructure, creating a desirable environment for residents and families.
• Public Amenities: F Street is collaborating with the City of Oak Creek to develop walking trails, parks, playgrounds, and a community green, further enriching the lakeside experience.

Invest in Your Future with Stable Returns

This exclusive opportunity offers the potential for strong and consistent returns. Today’s public launch makes this deal available to all F Street investors. Own a piece of the lakefront and capitalize on the rental success of the Lakeshore Commons community.

Invest Now!

F Street is raising $13.6 Million for F Street OCLV MF 2, LLC, with a minimum investment of $50,000. To invest or discuss the opportunity in more detail, please visit www.fstreet.com or contact us directly.

We look forward to partnering with you in this exciting venture!

Building on Success: The Coast at Lakeshore Commons

The first phase of Lakeshore Commons, the 199-unit Coast apartments, has already achieved remarkable success:

• Construction completed in December 2023.
• As of May 1, 2024, nearly 70% occupied, exceeding leasing projections.
• Full occupancy anticipated by July 2024.
• Learn more in the whitepaper (link to whitepaper).

Why Invest in Oak Creek?

• Strong Housing Market: Oak Creek’s proximity to Milwaukee and the Kenosha/Racine corridor fosters a robust and growing housing market.
• Investment in Infrastructure: The city prioritizes public schools and infrastructure, creating a desirable environment for residents and families.
• Public Amenities: F Street is collaborating with the City of Oak Creek to develop walking trails, parks, playgrounds, and a community green, further enriching the lakeside experience.

Invest in Your Future with Stable Returns

This exclusive opportunity offers the potential for strong and consistent returns. Today’s public launch makes this deal available to all F Street investors. Own a piece of the lakefront and capitalize on the rental success of the Lakeshore Commons community.

Invest Now!

F Street is raising $13.6 Million for F Street OCLV MF 2, LLC, with a minimum investment of $50,000. To invest or discuss the opportunity in more detail, please visit www.fstreet.com or contact us directly.

We look forward to partnering with you in this exciting venture!

Contact:
Josh Lurie
Principal / VP Investor Relations
josh@fstreet.com
(414) 315-3190

WATERTOWN DAILY TIMES

PRESS RELEASE

Milwaukee, WI – [May 20, 2024] – F Street is proud to announce the public launch of the investment opportunity for Village 43, a brand-new multifamily development in Brown Deer, Wisconsin.

Building on the success of their Phase 1 development, Greenlink Residences, and with the support of the Village of Brown Deer’s Tax Incremental Financing (TIF) incentive financing, F Street is excited to bring Village 43 to the community.

Why Invest in Village 43?

• Prime Location: Brown Deer boasts a strong housing market due to its proximity to Milwaukee and recent infrastructure investments. The Village is committed to attracting new families and has provided significant tax breaks for the project for 20 years.
• Market-Rate Apartments: Village 43 offers 156 market-rate garden-style apartments across eight buildings, catering to those seeking a manageable living space with a single-family home feel. Separate entrances and green spaces promote privacy and connection to nature.
• Amenity-Rich Community: A clubhouse and green spaces will foster a vibrant community atmosphere. Construction is anticipated to begin in Q3 2024, with move-in slated for Q2 2025.
• Experienced Developer: F Street leverages its expertise in successful garden-style communities across the Greater Milwaukee area, ensuring quality construction and asset management.

Invest in Class-A Rental Real Estate

F Street is raising $11.6 million for F Street BD 2, LLC, with a minimum investment of $50,000. This is your chance to own Class-A rental real estate in a growing market with favorable rental trends. Start your investment on F Street’s easy-to-use platform here.

Join Us

Village 43 promises to be a welcome addition to Brown Deer. Download the investment packet or contact F Street to learn more about this exciting opportunity and become part of a thriving community. This investment opportunity is available to accredited investors.

 

Contact:
Josh Lurie
Principal / VP Investor Relations
josh@fstreet.com
(414) 315-3190

THE REAL DEAL

PRESS RELEASE

Milwaukee, WI – [April 22, 2024] – F Street is pleased to announce the launch of VAM Fund 1 LLC, a multifamily investment vehicle offered exclusively to accredited investors. VAM Fund 1 LLC focuses on acquiring distressed multifamily assets, renovating the units, and leasing units at market rates to generate substantial returns for investors.

Experienced Partners Lead the Way
F Street has partnered with Shai Wolkowicki and Chikoo Patel of CKO Real Estate, real estate industry veterans with extensive experience in the multifamily asset class, to operate and manage VAM Fund 1 LLC. Their expertise and past successes complements F Street’s proven track record, ensuring a strong foundation for the fund’s success.

 

Capitalizing on Distressed Assets
VAM Fund 1 LLC represents the first in a series of Value-Add Multifamily (VAM) investment funds planned for launch over the next 12-24 months. The strategy capitalizes on the opportunity to acquire distressed multifamily assets at a discount, unlocking their value through renovations and strategic re-leasing.

Hyde Park and South Shore Take Center Stage
VAM Fund 1 LLC offers a unique opportunity to invest in the acquisition of 492 multifamily units across 21 properties in Chicago’s Hyde Park and South Shore neighborhoods. This is your chance to own a fractional equity interest in this multifamily portfolio that are positioned well to benefit from current economic conditions.

 

Investor-Centric Approach
F Street’s investment thesis prioritizes investor returns. In fact, the structure of this investment ensures that all free cash flow is distributed to investors until their investment is returned in full. By acquiring properties at a discount, renovating units, and re-leasing at market rents, VAM Fund 1 LLC aims to:

• Increase net operating income and asset value
• Generate equity for investors
• Refinance the investment to return a significant portion of invested capital within the first 24-30 months
• Manage the property and provide ongoing cash flow distributions to investors.

 

Join Us in This Exciting Opportunity
F Street and CKO Real Estate are seeking to raise $15.3 million for VAM Fund 1 LLC, with the sponsor group itself contributing at least $1.5 million. The offering is open to accredited investors only, with a minimum investment of $50,000.

Interested investors are encouraged to visit www.fstreet.com to invest or contact F Street to discuss the investment in more detail. Don’t miss out on this chance to be part of this promising investment opportunity!

 

Contact:
Josh Lurie
Principal / VP Investor Relations
josh@fstreet.com
(414) 315-3190