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.
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