Marcus & Millichap Inc.
07/16/2026 | Press release | Distributed by Public on 07/16/2026 14:19
Marcus & Millichap Facilitates $4.8M Sale of 23-Unit Multifamily Property in Green Bay
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Marcus & Millichap Facilitates $4.8M Sale of 23-Unit Multifamily Property in Green Bay
July 16, 2026
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GREEN BAY, Wis., July 16, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Whitney School Lofts Apartments, a 23-unit multifamily property located in Green Bay, Wisconsin. The property sold for $4.8 million, or $208.696 per unit.
"Achieving the highest price per unit ever recorded for a multifamily property in the Green Bay market reflects both the exceptional quality of Whitney School Lofts and the continued strength of investor demand for well-positioned multifamily assets," said Patrick Suffield, director investments. "The property's successful adaptive reuse design, institutional-quality construction and assumable HUD loan with a below-market interest rate created a rare investment opportunity that attracted significant interest from buyers seeking long-term stability and value."
Suffield, investment specialist in Marcus & Millichap's Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a developer that transformed a former school into one of Green Bay's premier luxury apartment communities through an extensive adaptive reuse redevelopment. He also procured the buyer, an out-of-market investor completing a 1031 exchange.
Whitney School Lofts Apartments is situated on 1.48 acres at 215 N. Webster Ave. Built in 1918 and renovated in 2020, the building features a mix of one- and two-bedroom units across 19,725 rentable square feet. The community is situated within walking distance of downtown Green Bay, the Fox River and numerous dining, retail and entertainment destinations.
"Achieving the highest price per unit ever recorded for a multifamily property in the Green Bay market reflects both the exceptional quality of Whitney School Lofts and the continued strength of investor demand for well-positioned multifamily assets," said Patrick Suffield, director investments. "The property's successful adaptive reuse design, institutional-quality construction and assumable HUD loan with a below-market interest rate created a rare investment opportunity that attracted significant interest from buyers seeking long-term stability and value."
Suffield, investment specialist in Marcus & Millichap's Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a developer that transformed a former school into one of Green Bay's premier luxury apartment communities through an extensive adaptive reuse redevelopment. He also procured the buyer, an out-of-market investor completing a 1031 exchange.
Whitney School Lofts Apartments is situated on 1.48 acres at 215 N. Webster Ave. Built in 1918 and renovated in 2020, the building features a mix of one- and two-bedroom units across 19,725 rentable square feet. The community is situated within walking distance of downtown Green Bay, the Fox River and numerous dining, retail and entertainment destinations.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
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