CBRE has arranged the sale of The Pines and The Fairways, two multifamily properties totaling 674 units in Fitchburg, Wisconsin. FPA Multifamily, LLC purchased the properties from E.J. Plesko & Associates, Inc. affiliated entities for an undisclosed amount.

CBRE’s Gretchen Richards, Patrick Gallagher, Matson Holbrook, Sean Beuche, Abe Appert, Keith Collins and Ted Abramson represented the seller in the transaction.

“The Pines and The Fairways attracted investors from coast to coast and we were impressed by the depth of our bidder pool,” said Richards. “The investor appetite for multifamily in the Madison market outpaces available supply by a significant margin thanks to exceptional market fundamentals.”

The Pines is located at 2302 High Ridge Trail, and the 305-unit property features a range of one-, two- and three-bedroom floor plans. The Fairways is located at 2301 Traceway Drive, and the 369-unit property features a range of one-, two- and four-bedroom floor plans.