PLEASANT PRAIRIE, WIS. — Berkadia has arranged the sale of two properties, Cobblestone Creek and Fountain Ridge, in Pleasant Prairie, Wisconsin, a village about 37 miles south of Milwaukee and 56 miles north of Chicago. The buyer was Illinois-based Santefort Real Estate Group. The undisclosed seller was represented by Pete Evans of Berkadia Chicago and Richard Evans of Berkadia Milwaukee. The deal closed on Feb. 11, at which time both properties were fully occupied.
Laura Cathlina, Chris Blechschmidt and Emily Stang of Berkadia Chicago arranged approximately $69 million in acquisition financing through Freddie Mac on behalf of Santefort.
Cobblestone Creek, built between 2013 and 2015, is a four-building, 164-unit community located at 9300 Prairie Ridge Blvd. Fountain Ridge is a 13-building, 262-unit community located at 8929 83rd St. Built between 2017 to 2019. Select units are offered as direct-access one- or two-story townhome floor plans.