Inland Completes Joint Venture Fund Multifamily Property in Milwaukee
Inland Real Estate Investment Corporation, or Inland Investments – a real estate investment manager with more than $16 billion in assets under management – announced the completion of Evoni Apartments, a multifamily development located in Milwaukee’s Historic Third Ward district.
“We are proud to complete this incredible residential project, delivered on time and on budget through a partnership between Inland and Kaeding,” said Nati Kiferbaum, chief strategy officer of Inland Investments. “This milestone underscores our commitment to disciplined execution, strategic collaboration, and value creation.”
The development was made possible through a joint venture fund between Inland Venture Partners LLC, Inland’s private equity real estate arm, and Kaeding Development Group LLC, that raised more than $27 million and closed in February 2024. Construction began in March 2023.
The multifamily development is located at 615 E. Corcoran Street. Adjacent to the Henry Maier Festival Park and Lake Michigan, the ground-up Class A multifamily community offers 261 units consisting of 60 studio, 122 one-bedroom, 66 two-bedroom, and 13 three-bedroom luxury apartments in a five-story building situated on three acres. Each unit offers a washer and dryer, smart rent keyless entry, walk-in closets, stainless-steel appliances and a private patio.
The property’s amenities include a swimming pool and hot tub, rooftop lounge, sky deck, outdoor fire pits with grill stations, a community recreation room, fitness center, yoga room, indoor sauna, a dog park, pet washing station, EV charging stations, indoor parking garage and a controlled mail and packaging room.
“This multifamily community answers a need in one of the hottest rental markets in the Midwest and pre-leasing has been a testament to that with over 115 units leased and nearly 80 already occupied,” said Jon Hoeg, senior vice president portfolio manager of Inland Investments. “Evoni is in a one-of-a-kind location with limited competing housing options and everything within walking distance; from Milwaukee’s best restaurants, bars, boutiques, and galleries surrounded by the area’s lakefront, historic charm and thriving green spaces.”
This project marks the fourth investment and second ground-up multifamily development of which Inland Investments has partnered with Kaeding.
In other Inland Investments news, it promoted Jon Hoeg to senior vice president, portfolio manager – private funds in May 2025, and announced the April 2025 sale of Solaire Apartments, a 252-unit multifamily community located in Brighton, Colo., on behalf of Brighton Multifamily DST for $57.5 million. The sale resulted in a realized net equity multiple to investors of 1.6x.
Headquartered in Oak Brook, Ill., Inland Real Estate Investment Corporation, i.e., Inland Investments, is a real estate investment manager and a member company of The Inland Real Estate Group of Companies Inc., one of the nation’s largest commercial real estate and finance groups. Inland Investments specializes in offering public and private tax-advantaged, growth and income real estate solutions spanning virtually every sector of the commercial real estate market. Since inception, Inland has engaged in real estate, including property management, leasing, marketing, acquisition, real estate brokerage, development, redevelopment, construction, real estate financing and other related services. Inland member companies have facilitated more than $55 billion in acquisitions since inception and currently manage a diverse real estate portfolio of approximately $16 billion across 42 states.
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