Berkadia announced the sale of Tivoli Green, a 458-unit multifamily property in Mount Pleasant, 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, Wangard Partners, Inc. The buyer is Illinois-based Santefort Real Estate Group, LLC. Wangard has been retained to provide third-party management services for the community.
Senior Managing Director Chris Blechschmidt and Senior Director Emily Stang of Berkadia Chicago arranged the acquisition financing through Freddie Mac on behalf of the buyer, Santefort Real Estate Group. The deal closed on October 5th.
Tivoli Green was delivered in three phases from 2021 to 2024 — the 22-building, 458-unit luxury multifamily property is located at 9110 Megan’s Way and spans approximately 38 acres. It is one of the largest multifamily assets built within the last 25 years in Southeastern Wisconsin and was the first apartment community built in Racine County in over 20 years. Tivoli features 100% direct-access units and two-story townhomes, offering sought-after home-like rental living.
Tivoli sits in the heart of massive economic expansion and job growth along the I-94 Corridor in Southeastern Wisconsin. Multi-billion-dollar investments via Microsoft, Lilly, and ULINE have — and continue to propel renter / buyer demand, population expansion, and exponential capital investment here. Microsoft’s AI data center and hyperscale campus in Mount Pleasant will top $20 Billion. Over 2.5 Million people live within a 60-minute commute.
