Archstone Capital Expands into Milwaukee Market with Acquisition of The Villas at Foxwood

The Villas at Foxwood

Chicago, IL – April 30, 2025 – Archstone Capital, a private real estate investment firm focused on multifamily acquisitions across the Midwest, announced its entry into the Milwaukee market with the acquisition of The Villas at Foxwood, a 232-unit townhome-style multifamily community located in Brown Deer, Wisconsin. This transaction marks Archstone’s second partnership with PPR Capital Management and represents a strategic expansion into a growing and dynamic Midwest market.

Situated approximately 15 minutes northwest of downtown Milwaukee, The Villas at Foxwood spans 21 acres and features private entrances, attached garages, fireplaces, and in-unit washers and dryers. The property offers significant value-add potential, with current rental rates below market and an opportunity for interior modernization. Planned upgrades include new stainless-steel appliance packages and premium flooring to elevate the resident experience and drive long-term value.

"We are thrilled to expand our relationship with PPR through this second transaction together," said Chris Salazar, CEO of Archstone Capital. "The Villas at Foxwood is an exciting opportunity to enter the Milwaukee market, and we believe the property’s fundamentals and value-add potential position it for exceptional long-term success."

Milwaukee’s multifamily market continues to show strong performance, posting a 5.6% vacancy rate — one of the lowest nationwide — along with rent growth exceeding the national average. With limited new construction on the horizon and favorable affordability compared to other markets, Milwaukee is well-positioned for continued demand and rental strength.

Archstone Capital will oversee execution of the value-add business plan alongside Harmoniq Residential, which will serve as property manager and Co-General Partner.

The investment structure includes a total equity investment of $19.5 million, with PPR Capital Management contributing the majority of the equity as the primary limited partner.

This acquisition exemplifies Archstone Capital’s focus on acquiring high-quality multifamily assets in growth-oriented secondary markets, with targeted value-add strategies designed to deliver strong risk-adjusted returns for investors.

About Archstone Capital

Archstone Capital is a vertically integrated real estate investment firm specializing in value-add and opportunistic multifamily assets across the Midwest. The firm combines investment management, property operations, and construction oversight to deliver superior risk-adjusted returns for its investors. Leveraging deep local market knowledge and a disciplined, data-driven approach, Archstone identifies underperforming or underutilized properties and transforms them into high-performing communities. The firm's in-house property management and construction teams ensure efficient execution and alignment across all phases of the investment lifecycle. Archstone is committed to creating lasting value for its investors, residents, and the communities it serves. For more information, please visit archstonecap.com.