CBRE facilitated the purchase of two multifamily properties, The Pines and The Fairways, totaling 674 units in Fitchburg, Wisconsin. FPA Multifamily, LLC acquired these properties from E.J. Plesko & Associates for an undisclosed amount.
The seller was represented by CBRE’s Gretchen Richards, Patrick Gallagher, Matson Holbrook , Sean Beuche , Abe Appert , Keith Collins and Ted Abramson.
Richards stated that the sale attracted interest from investors across the country due to strong market fundamentals in Madison. She also noted that there is a high demand for multifamily properties in this market but limited supply available.
Located at 2302 High Ridge Trail and featuring one-, two- and three-bedroom floor plans with a total of 305 units is The Pines. Meanwhile, located at 2301 Traceway Drive with one-, two- and four-bedroom floor plans totaling 369 units is The Fairways.
