JLL arranges $39.1 million refinancing for Tennessen Flats near Milwaukee

By Sam LosekSunday, November 15, 2026

Geographic context photograph of Menomonee River and Mill Pond Park in Menomonee Falls, Wisconsin, taken June 6, 2026; not Tennessen Flats or its retail buildings.

Geographic context: Menomonee River and Mill Pond Park, June 6, 2026. Not Tennessen Flats. Michael Barera / Wikimedia Commons, CC BY-SA 4.0. Source color correction; resized by Wikimedia; no further edits.

A $39.1 million floating-rate loan has refinanced construction debt on Tennessen Flats, a 173-unit apartment community in Menomonee Falls, Wisconsin, according to JLL's November 10 announcement.

JLL arranged the financing for sponsors Weas Development and Klein Development, as ConnectCRE also reported. The lender was an entity managed by Argentic Investment Management.

Completed in 2025, the property includes three four-story apartment buildings and two separate retail buildings totaling 15,360 square feet. JLL said the apartments were still completing lease-up when the loan closed.

Tennessen Flats sits roughly 15 miles northwest of downtown Milwaukee, with access to Interstate 41 and U.S. Route 45.

Photo: Menomonee River and Mill Pond Park, June 6, 2026, by Michael Barera / Wikimedia Commons. Geographic context, not Tennessen Flats. Photograph reused under CC BY-SA 4.0, retaining the source's color correction; resized by Wikimedia, without further edits.

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