- Development & Ownership
- Equity Procurement
- Land Acquisition
- Project Management
- Property Management
Purchase Date: November | 2017
Purchase Price: $127.5 million
Equity: $31.5 million
- Redevelopment of a historic site, 50+ year old parking structure into a 25-story Class A office tower
- 50% preleasing secured with two high-profile tenants
- Creative capital stack with EB-5 financing
- Best-in-market amenity offerings
- Only multi-tenant building offering floor-to-ceiling glass on all four elevations
- Touch-less access and highly efficient HVAC system
Irgens conceptualized, planned and developed BMO Tower to meet the demand for two notable Milwaukee tenants: BMO Harris Bank and law firm Michael Best & Friedrich. In a response to a broker-driven request, Irgens proposed to purchase BMO’s property at 770 North Water Street and demolish the parking structure to construct BMO Tower. The solution provided an exit strategy for BMO’s existing real estate and allowed both tenants to remain in the central business district. Irgens procured $96 million in loan proceeds, which included three loans, including funds raised by the federal EB-5 Immigrant Investor Program.
BMO Tower is a 24-story, 380,000 square foot contemporary work of architecture. BMO Tower features floor-to-ceiling glass, offering panoramic views of the heart of the city while offering large, 26,000 square foot office plates that are optimized for efficient space planning. The building energizes the street level with signature retail spaces and an activated lobby.
BMO Tower distinguishes itself in the marketplace by offering a touch-less visitor experience with door and light sensors and programmed elevator service. In addition, it supplies abundant day lighting and enhanced HVAC systems maximizing indoor air quality.