Marcus & Millichap closes sale of 16-unit multifamily community in Wausau

Marcus & Millichap closes sale of 16-unit multifamily community in Wausau

Marcus & Millichap closed the sale of The Reserve at Greenwood Hills, a 16-unit luxury multifamily community in Wausau, Wisconsin. The sale also included a fully entitled, shovel-ready development site for up to 48 more units. The property sold for $5,525,000. Dan Bowar, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both Wisconsin-based investors. Located on 2 acres at 2725 Osswald Road, The Reserve at Greenwood Hills was completed in 2020 and features 16 executive-style one- and two-bedroom apartments totaling 16,816 rentable square feet. Situated within a master-planned golf-course community, the property features underground parking, golf-cart access to Greenwood Hills Country Club, and resort-style amenities including a dining room and bar, theater, library, outdoor terraces and walking trails. The included development site provides the opportunity to expand the community by up to 48 additional units, bringing the potential total to 64 units.