Tricap Residential Group has closed on the acquisition of Franklin Park Apartments for a purchase price of $6,550,000. This transaction will add another 128 apartments to Tricap’s existing portfolio and is their first acquisition in Wisconsin. Tricap now owns and operates apartment communities in five states.
The property will be rebranded as one of Tricap’s Haven communities. Tricap will execute a value-add strategy including significant unit renovations, modernization of the common areas, and professional management practices that will maximize rents at the property.