Wangard Partners, Inc. has acquired its first property in Madison, a 158-unit apartment building on the city’s east side for $19.6 million.
Glacier Valley at Reston Heights is a five-building apartment community that Wangard will manage. The Wawatosa-based company has hired Brody Wachter to manage the property, Wachter has managed Glacier Valley since it was completed in 2012.
Breakwater Commercial LLC, a Madison-based commercial real estate investment brokerage firm listed the property. Rick Wilde, with Breakwater, said Glacier Valley Apartments was broadly
marketed to a national pool of private equity firms, REITs and institutional investors.
Madison Investments Group, LLC was the previous owner of the property, according to city records.
“Acquiring Glacier Valley at Reston Heights accomplishes our strategic business goal of expanding into the Madison area,” said Stewart Wangard, CEO, Wangard Partners. “This Class A property fits within our core expertise and will be maintained and managed by our award-winning property management team.”
