In 2005 Cafritz Interests successfully completed a value-add strategy of change of use for Marquette University in Milwaukee, WI from a 1960s medical office building to student housing.
The renovations for Marquette University were completed in just 18 months and transformed the property into a state-of-the-art student residential community reflecting contemporary trends in student housing, including a fitness center, student lounge, upgraded technology throughout the building and professional management operation. For added flair, the building exterior features a light sculpture by internationally renowned artist Dan Flavin. The property, which has the capacity for 350 beds, was fully-leased for the beginning of the 2007 school year and Cafritz Interests sold the property at a 5.0% capitalization rate in August 2007.