Milwaukee, Wis. — Campus Advantage has sold The Marq, a 612-bed community located near Marquette University in Milwaukee.
The property offers studio, one-, two-, three- and four-bedroom, fully furnished units. Shared amenities include a renovated clubhouse, 24-hour fitness center, free shuttle to campus, hammock garden, barbecue grill, fire pits, individual study rooms, a tanning bed and a cyber café.
Campus Advantage acquired the property in 2014 and successfully executed a value-add strategy that included curing deferred maintenance and renovations to common areas. The company also partnered with Catalyst for a new, integrated marketing approach. Terms of the disposition and the buyer were undisclosed.
"We are pleased to have been able to implement our solid investment strategy to help improve The Marq's living experience, and significantly increase the value of the property and the value delivered to the student community," says Michael Orsak, senior vice president of investments for Campus Advantage. "The sale of The Marq is reflective of our well-established track record and ability to turn around, stabilize and optimize struggling assets.”