Iowa Investors Acquire Riverwood And Biscayne Apartments In Mauston And Racine For $10.1M

The transaction involved the sale of Riverwood Apartments, comprising 32 units, and Biscayne Apartments, consisting of 80 units, located at 510 Mcevoy Street and 5010 Biscayne Avenue in the markets of Mauston and Racine, Wisconsin. The multifamily asset was sold for a total of $10,100,000, resulting in a price per unit of $90,179.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,100,000
• Units: 112
• Price Per Unit: $90,179
• Address: 510 Mcevoy Street & 5010 Biscayne Avenue
• Market: Mauston & Racine, WI
• Brokers: Matson Holbrook, Patrick Gallagher, Sean Beuche & Max Colby - CBRE

CBRE facilitated the transaction between two investors based in Iowa. The deal highlights the involvement of key brokers in managing the sale and connecting the parties for the successful completion of the transaction.