Press Release


17 1 2018


CBRE Capital Markets announced that it has arranged the $320.5 million sale and recapitalization of Milhaus’s Urban Core Portfolio, a nine-property multifamily portfolio located in Indianapolis, Memphis, Oklahoma City and Cincinnati.

Properties included in the transaction are:


  • Artistry – 258 units
  • Mentor & Muse – 242 units
  • Mosaic  – 54 units
  • Circa – 265 units
  • Mozzo – 65 units
  • Maxwell – 105 units

Memphis: Highland Row – 354 units

Cincinnati: Gantry – 131 units

Oklahoma City: Lift – 329 units

Steve LaMotte, Jr. of CBRE’s Indianapolis office and the Central Midwest Multifamily team represented the developer, Milhaus, an Indianapolis-based development, construction, and property management company formed in 2010. The locally based Gene B. Glick Company was the seller of one of the assets. The properties were acquired or recapitalized by four separate groups.

“The portfolio consists of small and large assets in four distinct metros, but the common theme the capital recognized is that each of these markets have expanding employment bases of young talent with plenty of runway left in this cycle,” said Mr. LaMotte, Senior Vice President, CBRE. “The rare opportunity to deploy a sizeable amount of capital in newly constructed, best-of-class, urban-walkable assets were duly noted by the market.”

As part of the transaction, five assets were recapitalized by a newly formed joint venture between StepStone Group Real Estate LP (“SRE”) and Milhaus.Seperately, FrontRange Capital Partners made a platform level investment in Milhaus which helped facilitate the recapitalization. This structure will allow Milhaus to reach its goal of operating 20,000 units by 2020, as well as retaining long term ownership and management of assets the firm develops.

The majority of the portfolio was developed, constructed and managed by Milhaus, who focuses on Class A, urban, multi-family residential buildings in growing secondary markets in the eastern half of the United States. 

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at