CBRE Arranges Sale of Development Site for $23.5M, 96-unit Multifamily Project in Waterloo, Wisconsin

CBRE has arranged the sale of a 10.7-acre parcel in Waterloo. Drumlin Fields Waterloo LLC purchased the property from Rolling Meadows Apartments LLC for $1.1 million.

CBRE’s Sean Beuche, Matson Holbrook and Gretchen Richards represented the seller in the transaction.

“We are pleased to have sourced a development team that is eager to bring needed housing to this pocket of Jefferson County in the path of growth between Madison and Milwaukee,” said Beuche. “The Buyer’s vision for this site, coupled with their ability to build the public/private partnership spanning local and regional stakeholders, is exactly the right fit for the community.”

The site will be developed into Drumlin Fields Apartments, a 96-unit, garden-style apartment community. Unit and community amenities will include private entrances, attached garages, in-unit washers and dryers, high-end finishes and fixtures, forced air heating and cooling, private patios or balconies, a playground, courtyards and green space.

“Brew City Capital Group is again partnering with Duffek Construction, KCB Architecture & Design, & Kapur and Associates to bring Drumlin Fields Apartments to life,” said Noah Jacobson, Managing Principal of Brew City Capital Group. “We’ve negotiated a development agreement with a TIF incentive from the City of Waterloo to help bring high-quality housing to a fantastic community. This $23.5 million project will bring much-needed housing to Waterloo and Jefferson County. We believe in the continued growth of the Madison-Milwaukee corridor and want to thank the City of Waterloo and Thrive Economic Development for being great partners in this project.”

Located at the southwest corner of West Clarkson Road and North Monroe Street, the site offers convenient access to State Highway 19 and several local amenities, including schools, parks, community services and retail venues.