Berkadia announced the sale of Cobblestone Creek and Fountain Ridge, two multifamily properties located in Pleasant Prairie, Wisconsin.
Senior Managing Director Pete Evans of Berkadia Chicago and Senior Director Richard Evans of Berkadia Milwaukee led the transaction on behalf of the seller. “The significant recent and expanding investments from ULINE, Lilly, Haribo, Microsoft, retail, and the healthcare sector have created one of the strongest economic growth corridors and stable tax bases in the country,” said Evans.
Senior Managing Directors Laura Cathlina and Chris Blechschmidt and Senior Director Emily Stang of Berkadia Chicago arranged $69.042 million in acquisition financing through Freddie Mac on behalf of the buyer, Illinois-based Santefort Real Estate Group.
Cobblestone Creek, available for the first time, is a four-building, 164-unit value-add multifamily community located at 9300 Prairie Ridge Blvd. Fountain Ridge, also available for the first time, is a 13-building, 262-unit, value-add multifamily community located at 8929 83rd Street.
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