Wangard Partners Sells 458-Unit Tivoli Green in Mount Pleasant, Wisconsin, to Santefort Real Estate Group

Wangard Partners, Inc. has sold Tivoli Green, a 458-unit multifamily community in Mount Pleasant, Wisconsin, to Illinois-based Santefort Real Estate Group, LLC. Berkadia announced the transaction on Oct. 8, 2026. The deal closed on Oct. 5, 2026.

Wangard has been retained to provide third-party management services for the community.

Berkadia Teams Handle Sale and Financing

Pete Evans, senior managing director in Berkadia's Chicago office, and Richard Evans, senior director in Berkadia's Milwaukee office, led the sale on behalf of Wangard Partners.

Chris Blechschmidt, senior managing director, and Emily Stang, senior director, both of Berkadia Chicago, arranged acquisition financing through Freddie Mac on behalf of Santefort Real Estate Group.

Tivoli Green Property Details

Tivoli Green is located at 9110 Megan's Way in Mount Pleasant, in Racine County. The community comprises 22 buildings on approximately 38 acres and was delivered in three phases from 2021 to 2024. Unit types range from studios to three-bedroom homes, including two-story townhomes and 100% direct-access units. Public floor plans show units of roughly 523 to 1,590 square feet, with asking rents from about $1,333 to $3,283 per month.

Berkadia described the property as one of the largest multifamily assets built in the past 25 years in Southeastern Wisconsin and the first apartment community built in Racine County in more than 20 years. The firm also characterized the sale as one of the largest single-asset multifamily sales in Wisconsin history.

Southeastern Wisconsin Economic Backdrop

Tivoli Green sits within an area of economic expansion and job growth along the I-94 Corridor in Southeastern Wisconsin. Multi-billion-dollar investments by Microsoft, Lilly and ULINE are cited as drivers of renter and buyer demand and population growth. Microsoft's artificial intelligence data center and hyperscale campus in Mount Pleasant is expected to top $20 billion in investment. More than 2.5 million people live within a 60-minute commute of the property.

Broker Comments

"Southeastern Wisconsin is home to one of the fastest-growing, most dynamic economic corridors in the country and national multifamily investors are taking note," said Richard Evans. "Tivoli Green's exceptional quality and timeless design directly answer the region's rising demand for premium rental housing. This makes it an ideal vehicle for investors looking to capture the strength of this burgeoning market. Bringing Wangard and Santefort together for this milestone transaction — one of the largest single-asset multifamily sales ever in Wisconsin — is deeply rewarding because we have long-standing relationships with both firms and their investment synergies are numerous."

"Wangard Partners' experience as one of Wisconsin's preeminent developers is reflected in the quality and long-term appeal of this community," said Chris Blechschmidt.

"Santefort Real Estate Group continues to demonstrate its disciplined approach to acquiring and operating high-quality, institutional-grade multifamily communities across the Midwest. Tivoli Green complements the firm's portfolio with its appealing location, quality, and potential for sustained performance. We were proud to arrange Freddie Mac financing that supports Santefort's strategy and its long-term objectives," said Emily Stang.

Market Context

The sale pairs a recently delivered asset with agency debt and keeps the original developer in a management role. Regional market data places Midwest multifamily cap rates at approximately 5.7% in 2025 and near 5.9% in the first quarter of 2026.

Sources

Berkadia, "Tivoli Green, Mount Pleasant, WI | Sold and Financed by Berkadia 2026": https://www.berkadia.com/news/tivoli-green-mount-pleasant-wi-sold-and-financed-by-berkadia-2026/