Done Deals: JLL completes $47.55 million sale of The Vue at Pinnacle Park Apartments in Fitchburg, WI

Monday, November 18, 2019

JLL completes $47.55 million sale of The Vue at Pinnacle Park Apartments in Fitchburg, WI

The Vue at Pinnacle Park Apartments, Fitchburg, WI

CHICAGO, IL – JLL announced it has closed the $47.55 million sale of The Vue at Pinnacle Park, a 285-home, Class A apartment community located in Fitchburg, Wisconsin, a suburb to the south of Madison.

JLL marketed the property exclusively on behalf of the seller, Milwaukee-based Fiduciary Real Estate Development, Inc., and procured the buyer, Weidner Apartment Homes.

Amanda Friant

The Vue at Pinnacle Park is located at 1300 Post Road less than five miles south of downtown Madison.

Built in 2014, the property is less than 20 minutes from top employers, including the University of Wisconsin-Madison, Epic Systems and American Family Insurance, and is about three minutes from Madison’s “Beltline” Highway, which is the convergence of Highways 12, 14, 18 and 151 at Interstate 90.

Wick Kirby

The Vue at Pinnacle Park is situated on 9.83 acres near a vast nature preserve that insulates the area from future development and also offers unobstructed scenic views and access to walking trails.

The property consists of five three-story buildings that house a variety of studio through three-bedroom units averaging 976 square feet.

Community amenities include a resort-style swimming pool and sundeck, outdoor grilling area, fire pit, 24-hour fitness center with tanning bed, clubroom with wet bar, heated ground-floor garages and indoor pet washing stations. The property was 97% occupied at closing.

The JLL Capital Markets team representing the seller was led by Senior Director Wick Kirby, Managing Director Marty O’Connell, Director Kevin Girard and Analyst Amanda Friant.

Marty O’Connell

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

Kevin Girard

About Fiduciary Real Estate Development, Inc.:

Fiduciary Real Estate Development, Inc. (“FRED”) was founded in 1984, and is an experienced real estate development and investment management company, focusing on multi-family and mixed-use properties.

A fully integrated firm, with in-house development, construction, asset management and property management expertise, FRED currently owns and operates more than 8,000 apartment homes throughout Wisconsin, Minnesota and Illinois.