Northmarq’s Debt + Equity team successfully arranges $32.205M refinance of Revelry Apartments in Madison, WI

MADISON, Wis. — Northmarq’s Minneapolis Debt + Equity team led by Lucas Goring successfully arranged the $32.205 million refinance of Revelry Apartments, a 191-unit, market-rate, mid-rise apartment community located at 7449 Weekend Way in Madison, Wisconsin.

Northmarq arranged financing on behalf of the borrower, a joint venture between Axial Real Estate Advisors and Saturday Properties, through its in-house Fannie Mae DUS platform. The transaction was structured on a 10-year term.

“Saturday Properties continues to deliver well-received communities in supply-constrained markets such as Madison, and Fannie Mae proved to be the ideal partner for a property just reaching stabilization,” Goring said. “Brent and his team at Saturday Properties executed the business plan at a high level, taking this from construction, through lease up and into a permanent loan.”

Built in 2024, Revelry features studio-, one-, two- and three-bedroom floorplans. Interior features include a balcony or patio, quartz countertops, high-speed internet, ceiling fans, cable-ready, window coverings, washer/dryer, security system and wheelchair accessibility.

Community features include a pool, clubhouse, fitness center, elevator, roof terrace, grill, package service, 24-hour access, on-site maintenance, planned social activities, EV charging, multi-use room, game room, cabana, picnic area, storage space, bicycle storage, sundeck, courtyard and more.

Revelry is perfectly situated near the University of Wisconsin Campus with easy access to iconic destinations like Camp Randall Stadium, the Chazen Museum of Art, and the UW Arboretum. It is conveniently located near shopping and restaurant options and has nearby access to U.S. Highway 12/Beltline Highway.