Axiom Properties Acquires Madison Property From Crown Properties Inc. For $12.7M

The property asset involved in this transaction is a 123-unit, garden-style apartment community located at 1202 McKenna Blvd, Madison, WI. The sale price of the property was $12,700,000. The market for this transaction is Madison, and the property features studio, one-, and two-bedroom floorplans, along with amenities such as laundry facilities, onsite management, and a barbecue area. It is situated adjacent to Elver Park and provides convenient access to the University of Wisconsin Madison.

Summary of transaction details:

• Property Type: Apartment Community
• Transaction Amount: $12,700,000.00
• Address: 1202 McKenna BLVD, Madison, WI
• Market: Madison
• Seller: Crown Properties Inc.
• Buyer: Axiom Properties
• Seller's Representative: Ralph DePasquale-Berkadia
• Acquisition Financing Amount: $9,300,000.00
• Loan Terms: 10-year loan with a 30-year amortization schedule and 75 percent loan-to-value ratio

Key individuals involved in this deal include Ralph DePasquale, representing the sellers, Crown Properties Inc., and New York-based Trevian Capital. Chris Blechschmidt and Connor Reed of Berkadia secured the financing for Illinois-based Axiom Properties. The financing was obtained through Freddie Mac.