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Wisconsin Apartments with Student Appeal Trade for $14M
Berkadia completed the $13.5-million sale of Metro Crossing, an 84-unit, garden-style multifamily property in Eau Claire, WI. Managing director Ralph DePasquale and director Jack Maloney of Berkadia Chicago and Milwaukee, respectively, led the Berkadia team on behalf of the seller, Wisconsin-based Rooney Properties, which developed the asset in 2014.
Metro Crossing sold to Wisconsin-based Greywolf Partners, Inc. Located at 2851 Hendrickson Dr., the property was 99% occupied at the time of sale. Greywolf Partners will also manage the four-story property.
“Metro Crossing was developed to attract students from UW – Eau Claire and Chippawa Valley Tech with a combined 17,000 students,” said DePasquale. “The location offers easy, walkable access to both schools and, given the exceptional units and amenities, it is easy to see why the property has always had strong occupancy. It should continue to be an excellent, long-term investment for the new owner.”
- ◦Sale/Acquisition
