Bayshore Place, a 113-unit apartment complex tucked into the center of Glendale’s Bayshore Town Center, has changed hands for $15 million. The new owner is an Illinois-based investment group, and building management says day-to-day operations are expected to carry on as usual. For a property tied so closely to Bayshore’s shops and entertainment, the sale is a clear signal that investors are still betting on the area’s housing market.
The transaction was first reported by the Milwaukee Business Journal, which noted that the 113-unit property sold for $15 million. Property listings and rental sites place Bayshore Place at 5699 N Centerpark Way and confirm the 113-unit count, according to Apartments.com. The Business Journal identified the buyer only as being based in Illinois and did not report additional deal terms.
How this deal ties into Bayshore’s makeover
The Bayshore area has been in the middle of a slow-motion identity change, with local reporting detailing efforts to shift from a traditional mall into a mixed-use district that leans more on housing and office space, a strategy covered by TMJ4. That broader repositioning has featured a series of property moves in recent years, including the sale of the Target parcel, a trend that has kept investors closely watching the complex, according to BizTimes.
What the new owner might have in mind…