Orinova Capital Buys Milwaukee Alexander Lofts Property

The firm purchased the 60-unit residential building in Milwaukee for $6.3 million.

Updated on Oct. 20, 2026 in Commercial

Isometric editorial illustration of a classic red brick industrial building with arched windows, representing the Alexander Lofts property acquisition. — Orinova Capital acquired the Alexander Lofts in Milwaukee for $6.3 million, marking the firm's third multifamily property purchase of 2026. AI Illustration. Upload story photo >

Live Poll

Does the purchase of distressed local apartments by outside investment firms help your community?

Orinova Capital has acquired the Alexander Lofts, a 60-unit residential property located at 1673 S. 9th St. in Milwaukee, for $6.3 million. The purchase represents the firm's third distressed multifamily acquisition of 2026.

Why it matters

The move aligns with Orinova Capital's strategic focus on securing multifamily real estate opportunities across Wisconsin. By targeting distressed assets, the firm aims to stabilize operations while maintaining existing occupancy within the community.

The Alexander Lofts building contains 60 residential units and also houses a local Milwaukee Public Library branch. Orinova Capital, which was founded in 2025, has now raised $10 million in equity to support its four-property portfolio.

The players

Orinova Capital

This investment firm manages $30 million in total assets and focuses on acquiring multifamily properties in Wisconsin.

Gorman & Co.

This company specializes in real estate development and previously led the 2017 renovation of the Alexander Lofts site.

CBRE

This global commercial real estate services firm acts as a broker for institutional and private property transactions.

The details

Originally built as the Hill Department Store in 1919, the building was later renovated into apartments by Gorman & Co. in 2017. The recent transaction for the property was brokered by CBRE.

1919: The building was constructed as the Hill Department Store.
2017: The site was renovated into apartments.
2025: Orinova Capital was founded.
2026: The firm completed three distressed multifamily acquisitions.
October 20, 2026: Orinova Capital announced the Alexander Lofts acquisition.

Culture Shift

This acquisition reflects a broader trend of institutional investment in regional multifamily assets to address housing supply needs. It signals a move toward stabilizing older urban stock as firms look to expand their presence in growing Wisconsin markets.

The property will continue to serve residents as a housing complex and maintains its function as a Milwaukee Public Library branch site. Residents can expect operations to remain consistent as the new ownership works to stabilize the facility.

The takeaway

Real estate firms are increasingly prioritizing distressed multifamily assets to grow their regional portfolios in the current market. Property owners looking to follow this trend should focus on long-term stabilization plans to ensure building viability.