420-UNIT APARTMENT COMMUNITY TRADES HANDS IN WISCONSIN
MADISON, WIS. — Banner Essex Apartment Fund I, through an affiliate, has acquired a 420-unit apartment community in Madison. Built in phases, the community consists of Rivers Edge, Fordem Towers and Camelot Apartments. The property is comprised of 10 studios, 134 one-bedroom units, 244 two-bedroom units and 28 three-bedroom units. Additionally, the community features underground parking, laundry facilities, two swimming pools and a central clubhouse. Acquisition financing was arranged by Allan Edelson of CW Capital. The purchase price was not released.