PPR Capital Management Announces 232-Unit Multifamily Acquisition in Milwaukee Metro Area
This strategic first investment in the upper Midwest market expands the firm’s geographical footprint, reinforcing its strategy of investing in regions poised for growth
May 1, 2025 – Wayne, PA – PPR Capital Management (PPR), a private equity real estate investment firm, announced the acquisition of The Villas at Foxwood, a 232-unit townhome-style multifamily community located in Brown Deer, Wisconsin, approximately 15 minutes northwest of downtown Milwaukee. This $38.3 million acquisition represents PPR’s first investment in the Milwaukee Metropolitan Statistical Area (MSA) and marks the firm’s expansion into the upper Midwest region.
“The Villas at Foxwood acquisition aligns perfectly with our evolving investment strategy focusing on communities with strong fundamentals in growing markets,” said Steve Meyer, CEO of PPR Capital Management. “This transaction exemplifies PPR’s disciplined approach to portfolio diversification and our commitment to identifying properties with substantial value creation potential that deliver attractive risk-adjusted returns for our investors.”
The Milwaukee MSA demonstrates robust multifamily performance metrics, ranking as the nation’s 8th lowest vacancy rate at 5.6% according to CoStar. The market achieved 2.4% rent growth, outpacing the national average of 1%. With limited new supply projected for 2025 and beyond, coupled with favorable housing affordability dynamics, Milwaukee is well-positioned for continued strength.
Christopher Cordes, Director, Multifamily Investments at PPR Capital Management, added, “The Villas at Foxwood represents an ideal opportunity to enter the Milwaukee market, which is experiencing steady growth driven by the area’s expanding lifestyle and entertainment options throughout downtown and along Lake Michigan. The property’s distinctive townhome characteristics and market potential make this an especially compelling investment for our portfolio.”
The investment structure includes a total equity investment of $19.4 million, with PPR contributing over $18 million as the primary equity partner. PPR worked alongside Archstone Capital as the General Partner and Harmoniq Residential as both Co-GP and property manager for the 1990-constructed community.
“We’re proud to partner once again with PPR on an acquisition that fits squarely within our investment thesis. Our teams are aligned on the vision for The Villas at Foxwood, and we are excited to execute a comprehensive business plan that enhances value for both residents and investors,” said Chris Salazar, Founder & CEO of Archstone.
In addition to Christopher Cordes, the PPR project team includes Peter Kelley, Associate Counsel, Jared Floryshak, Paralegal.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
