CBRE Arranges Sale of Townhomes in Kenosha
CBRE has arranged the sale of Bayside Townhomes, a 32-unit multifamily community in Kenosha. Campbell Creek Communities LLC purchased the property from Bayside Townhomes LLC for $7.14 million.
CBRE’s Matson Holbrook, Gretchen Richards and Sean Beuche represented the seller in the transaction. “We continue to see strong investor demand for 1990s-vintage assets,” said Holbrook. “Bayside’s unique positioning within this submarket, coupled with attractive assumable debt, made this an extremely desirable acquisition target for the buyer.”
Bayside Townhomes is located at 1523 Sheridan Road, proximate to Carthage College and the Lake Michigan waterfront. The property features three-bedroom floor plans averaging 1,500 square feet, and 100% occupied at the time of sale. “Bayside Townhomes is exactly the kind of asset we seek out, a well-located, value-add community where we can improve fundamentals and deliver strong returns for our investors,” said a representative of Campbell Creek Communities LLC.
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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