The Corridor

Sheboygan, WI

A 240-unit Class A apartment community located in Sheboygan, Wisconsin. The property, which was built in 2021, offers a range of luxury 1-, 2-, and 3- bedroom apartments spread across three buildings.

Year Built

2021

Number of Units

240

Average Unit Size

810 SF

Investment Highlights

1436 GREEN ST

SHEBOYGAN, WI 53081

The Corridor (formerly The Oscar) is a 240-unit Class A apartment community located in Sheboygan, Wisconsin. The investment from Midloch will facilitate a reduction of the existing loan balance from approximately $31 million to $23.5 million at closing. Additionally, Midloch and its affiliates will acquire the previous majority investor’s $8 million accrued preferred equity stake (held by BMO Harris Bank) for just $1 million. Midloch’s acquisition basis of ~$32 million represents a $12 million discount to the developer’s basis, prior to any capitalized upgrades to the property.

Built in 2021, The Oscar offers a range of luxury 1-,
2-, and 3-bedroom apartments spread across three buildings. The property faced challenges due to
inadequate management and construction issues,
resulting in a prolonged lease-up period. Midloch acquired The Corridor ±70% occupied and plans to address operational issues through strategic capital improvements and enhanced
professional property management.

CONTACT

Tim Donovan

414.795.5849
tim@midloch.com

CONTACT

Gabriella Garcia

312.625.7162
gabriella@midloch.com

Find New Value in Real Estate

CHICAGO

MILWAUKEE

MINNEAPOLIS

+1 414 644 0353

DISCLAIMER: This website is for informational and discussion purposes only and is not, and may not be relied on in any manner as, legal, business, financial, tax or investment advice or as an offer to sell or a solicitation of an offer to buy an interest in any fund or other opportunity sponsored by Midloch, LLC, or its affiliates (each, an “Opportunity”) or to participate in any investment strategy and may not be used or relied upon in connection with any offer or sale of securities. A private placement of interests in an Opportunity will only be made pursuant to a definitive confidential private placement memorandum, term sheet or similar offering document (as such may be amended or supplemented from time to time, a “Memorandum”), an Opportunity’s subscription documents, and a Opportunity’s limited liability company agreement or limited partnership agreement, as applicable, as it may be amended and/or restated from time to time, which will be furnished to qualified prospective investors on a confidential basis at their request and should be reviewed in connection with any consideration of an investment in an Opportunity. No assurance can be given that any Opportunity’s investment objectives will be achieved. This website does not contain all of the information and risk factors that would be important to an investor in making an investment decision and is not an offer to sell a security or the solicitation of an offer to buy a security. A discussion of material risks involved in an investment in an Opportunity is included in the Memorandum related to such Opportunity. By accessing this website and reviewing the information provided herein, you understand, acknowledge and agree that none of Midloch, LLC, its affiliates and/or their respective members of management, officers, managers, directors, agents and representatives shall have any liability for any misstatement or omission of information contained herein.

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Find New Value in Real Estate

CHICAGO

MILWAUKEE

MINNEAPOLIS

+1 414 644 0353

DISCLAIMER: This website is for informational and discussion purposes only and is not, and may not be relied on in any manner as, legal, business, financial, tax or investment advice or as an offer to sell or a solicitation of an offer to buy an interest in any fund or other opportunity sponsored by Midloch, LLC, or its affiliates (each, an “Opportunity”) or to participate in any investment strategy and may not be used or relied upon in connection with any offer or sale of securities. A private placement of interests in an Opportunity will only be made pursuant to a definitive confidential private placement memorandum, term sheet or similar offering document (as such may be amended or supplemented from time to time, a “Memorandum”), an Opportunity’s subscription documents, and a Opportunity’s limited liability company agreement or limited partnership agreement, as applicable, as it may be amended and/or restated from time to time, which will be furnished to qualified prospective investors on a confidential basis at their request and should be reviewed in connection with any consideration of an investment in an Opportunity. No assurance can be given that any Opportunity’s investment objectives will be achieved. This website does not contain all of the information and risk factors that would be important to an investor in making an investment decision and is not an offer to sell a security or the solicitation of an offer to buy a security. A discussion of material risks involved in an investment in an Opportunity is included in the Memorandum related to such Opportunity. By accessing this website and reviewing the information provided herein, you understand, acknowledge and agree that none of Midloch, LLC, its affiliates and/or their respective members of management, officers, managers, directors, agents and representatives shall have any liability for any misstatement or omission of information contained herein.

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