MILWAUKEE, WI – 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 property spans 21 acres and features amenities including private entrances, attached garages, fireplaces, and in-unit washers and dryers. With current rental rates below market value, The Villas at Foxwood presents a compelling value-add opportunity. PPR plans to implement modernized unit upgrades such as stainless-steel appliance packages and premium flooring.
“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 do a comprehensive business plot that enhances value for both residents and investors,” said Chris Salazar, Founder & CEO of Archstone.

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WASHINGTON – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced construction is underway at Modera Lady Bird, a contemporary mixed-use community bordering the premier Spring Valley and American University Park neighborhoods of the nation’s capital.
Modera Lady Bird, which broke ground in December, will feature 234 homes, an 18,000-square-foot organic grocery store and boasts an unparalleled location in Washington, D.C.’s Northwest quadrant. The midrise community is positioned along Massachusetts Avenue, a key artery connecting downtown D.C. to the Upper NW and Maryland suburbs. First go-ins are anticipated for summer 2027.
“Modera Lady Bird represents the first Class A community along the Northwest part of Massachusetts Avenue in more than four decades, and the first sizeable residential development ever delivered in the immediate Spring Valley neighborhood,” said Peter Braunohler, managing director of development in the Mid-Atlantic for Mill Creek. “This will be a unique offering for the area, which mostly consists of single-family homes and where land suitable for such a community is extremely scarce. We look forward to joining the neighborhood and offering a best-in-class living experience.”
Located at 4330 48th Street NW, Modera Lady Bird is surrounded by an array of upscale retail amenities that include Crate & Barrel, Wagshal’s Market, Millie’s, Starbucks, Pizza Paradiso and Compass Coffee. The community’s ground-floor organic grocer will provide the neighborhood with a walkable grocery option, which does not currently exist for residents in the immediate vicinity. The area also features key employers and demand drivers, including D.C.’s top-ranked hospital, Sibley Memorial, which sits within a mile of Modera Lady Bird. Additionally, American University, a private federally chartered research university, is within a half mile of the community.
Modera Lady Bird, which will be built to, and is pursuing, a LEED Gold certification, will offer studio, one-, two- and three-bedroom homes with select den layouts and penthouses. Community amenities will consist of a rooftop lounge and deck, a ground-level courtyard with fire pit and outdoor dining, resort-style outdoor swimming pool, resident clubhouse, demonstration kitchen, coffee bar, additional landscaped courtyards, pet spa and a club-quality fitness center with cardio equipment, individual TVs, steam rooms and a yoga/Pilates studio. The community will also include coworking spaces, controlled-access garage parking, EV-charging stations, dedicated bike storage and additional storage space.
Home interiors will feature nine- and 10-foot ceilings, wood-style plank flooring, stainless steel appliances, quartz countertops, pull-down faucets, tile backsplashes, pendant lighting, moveable and fixed kitchen islands, custom soft-close cabinetry with under-cabinet lighting, oversized bedrooms with spacious closets, built-in storage, in-home washers and dryers and private patios/balconies. Smart features will include programmable thermostats, key fob access, keyless guest entry, bulk WiFi and smart leak detection. Bathrooms will feature backlit mirrors, double vanities, linen closets, soaking tubs and tile shower surrounds.

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CHANDLER, AZ – TGM announced the acquisition of TGM Ocotillo Bay, a lakefront community in the Ocotillo Master Plot, an upscale residential enclave with outstanding recreational amenities. The 296-unit garden style community with resort-inspired Spanish architecture and unique lakefront setting has a low-density site plot over 19 acres.
This acquisition marks TGM’s reentry into Phoenix, a market in which TGM has invested in the past, acquiring and disposing of approximately 2,300 units. TGM Ocotillo Bay is managed by TGMs’ property management company, TGM Communities LLC.
TGM Ocotillo Bay is within a mile of the Price Road Corridor, largest high-tech employment hub in Arizona, including Intel’s largest manufacturing facility in the world. TGM believes Chandler has some of the strongest fundamentals of the Phoenix submarkets because of its convenient access to desirable live/work/play opportunities. In addition to having the number 1 school district in the state of Arizona, Chandler ranked at number 37 in Fortune’s 2024 “50 Best Places to Live for Families” list, the sole Arizona city to make the cut. The City of Chandler is one of the most financially stable cities in the United States, which is reflected in the city receiving AAA ratings from each of the major bond rating agencies (Temperamental’s, S&P Global, Fitch from 2023 through June 2024).
Completed in 1997 and partially renovated in 2015, we believe the design, layout and construction of the apartments are brilliant with one- two- and three-bedroom apartments. TGM will be undertaking renovations of apartment interiors with new kitchen cabinets, countertops, appliances, flooring, lighting, and hardware fixtures. Bathrooms will be renovated to match the finishes of the kitchen. Community amenities include two swimming pools with sundecks and grills, a landscaped entertainment courtyard with bocce ball, an outdoor fireplace, lounge, and grill area, a contemporary fitness center with yoga/spinning room, and lake views from many buildings and amenity areas. TGM plans to transform the current clubhouse with modern, state-of-the-art amenities.
“We believe TGM Ocotillo Bay is an brilliant community with exceptional bones and an irreplaceable lakefront location. The community presented the ideal opportunity to re-enter the Phoenix market,” said TGM’s Managing Principals Zach Goldman and John Gochberg. “We look forward to implementing our signature renovation strategy to add value for our residents and investors alike.”

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