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Sign in Sign up for a FREE subscriptionValue-add multi-housing community in Wisconsin sells for $40.8m
Stonewood UI, an affiliate of Banner Real Estate Group, has sold Stonewood Village, a 272-unit, value-add, garden-style multi-housing community in Madison, Wis. Axiom Properties acquired the asset for $40.8 million.
Stonewood Village features one- and two-bedroom units with an average size of 1,004 square feet. The units currently feature spacious floorplans, in-demand private entries, patios or balconies, washers and dryers and dishwashers in every unit. Community amenities include a playground, tennis courts, a leasing office, a maintenance garage and a pool. The property has opportunity for both a programmatic interior renovation plan and an enhancement to the existing community amenity package.
Situated at 302 Parkwood Lane and adjacent to the Hiestand Park, Stonewood Village is located less than a 15-minute drive to Downtown Madison and easily accessible to Interstates 90 and 94, Highways 30 and 51, the Dane County Regional Airport, and abundant retail. The proper
