CBRE Facilitates $34M Sale of Madison MF Properties

CBRE Facilitates $34M Sale of Madison MF Properties

CBRE has successfully facilitated the sale of two multifamily properties, Royster Commons and 515@Royster, in Madison for a total of $34 million. The buyer, Weidner Apartment Homes, acquired the properties from Ruedebusch Development & Construction.

Leading CBRE brokers Gretchen Richards, Patrick Gallagher, Matson Holbrook and Ted Nevermann represented the seller in this transaction. Additionally,CBRE’s Capital Markets’ Debt and Structured Finance team provided financing for the buyer.

According to Richards: “Madison’s strong market fundamentals continue to attract robust national interest with its low vacancy rate of 3% and ranking No.7 in rent growth year-over-year.” She also noted that both parties involved were exceptional at executing this deal.

Located at 521-523 Grand Oak Trail just west of Highway 51 near Lake Monona,Obrich Botanical Gardens,and University of Wisconsin,the newly built (2019) Royster Commons offers a varietyof studio-, one-,and two-bedroom floor plans within its86 units.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

Share the Post:

Related Posts