Berkadia has completed the sale of Tivoli Green, a large multifamily community in Mount Pleasant, Wisconsin, along with arranging acquisition financing for the buyer. The property totals 458 multifamily units and is positioned as a luxury offering within the regional rental market.
The asset, known as Tivoli Green, is located at 9110 Megan’s Way in Mount Pleasant. It spans approximately 38 acres and is organized across 22 residential buildings. The community was brought online in three phases between 2021 and 2024, making it a recently delivered addition to the local multifamily stock.
Senior Managing Director Pete Evans of Berkadia Chicago and Senior Director Richard Evans of Berkadia Milwaukee led the sale transaction for the seller, Wangard Partners, Inc. The buyer is Santefort Real Estate Group, LLC, a firm based in Illinois. Following the sale, Wangard Partners has been retained to provide third-party management services for the Tivoli Green community, maintaining its involvement with the asset on an operational basis.
On the financing side, Senior Managing Director Chris Blechschmidt and Senior Director Emily Stang, both with Berkadia Chicago, arranged the buyer’s acquisition financing through Freddie Mac. The financing supports Santefort Real Estate Group’s purchase of Tivoli Green, utilizing agency capital to secure the transaction. Specific loan terms, including proceeds, rate, and maturity, were not disclosed.
Tivoli Green stands out for its scale within the regional market. The 458-unit property is described as one of the largest multifamily assets built in Southeastern Wisconsin over the past 25 years. It also holds the distinction of being the first new apartment community developed in Racine County in more than 20 years, underscoring a long period of limited new multifamily supply in the immediate area.
Commentary from Berkadia highlighted the broader economic context for the transaction, noting that Southeastern Wisconsin is viewed as one of the country’s more dynamic and fast-growing economic corridors. According to Berkadia, this backdrop is drawing increased attention from national multifamily investors, who are looking to participate in the region’s growth through acquisitions such as Tivoli Green.
With the sale and financing now completed, Tivoli Green transitions to new ownership under Santefort Real Estate Group while continuing to be managed by Wangard Partners. The combination of recent construction, significant unit count, and agency-backed acquisition financing positions the property as a notable multifamily transaction within the Milwaukee-area investment landscape.
