CBRE Arranges Sale of Apartment Buildings in Wisconsin
CBRE has arranged the sale of Riverwood Apartments, a fully occupied 32-unit multifamily community in Mauston, Wisconsin. Tripp & Associates acquired the property from Riverwood Apartments, LLC for $3.95 million.
CBRE’s Sean Beuche, Max Colby, Matson Holbrook and Gretchen Richards represented the seller in the transaction. “Mauston has proven to be a compelling market for multifamily investment,” said Beuche. “The growing employment base includes full-service healthcare, manufacturers expanding their operations and significant regional tourism drawn from Wisconsin Dells, which is just 23 minutes away.”
Riverwood Apartments includes four two-story residential buildings on 3.24 acres along the Lemonweir River. Built in 1994, the property offers a mix of one-, two- and three-bedroom floor plans with units ranging from 575 to 1,000 square feet. “Smaller Wisconsin markets like Mauston are where the supply-demand imbalance is most evident,” said Joan Tripicchio, Principal, Tripp & Associates.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout