Cottonwood Buys Park Lafayette Towers | Milwaukee News

Cottonwood Communities just dropped nearly $94 million on Milwaukee’s Park Lafayette Towers — a savvy move that signals big things for the property and the company’s national expansion. Originally built as condos in 2007, the complex hit rough waters during the crash, with only a few units sold before Mandel Group stepped in to convert them into apartments. After a rocky start and even bankruptcy for the original developer, the property rebounded — hitting 90% occupancy by 2011 and now boasting over 95%. With a city-assessed value of just $69 million, Cottonwood paid a premium, using a mix of cash, existing financing, and proceeds from other sales. This marks a new chapter for the East Side landmark and a major win for investors who see value in established, high-demand apartment buildings. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/410d6e4f00fd4a82