Key Takeaways
- • Campbell Creek Communities LLC acquired Bayside Townhomes, a 32-unit multifamily property in Kenosha, Wisconsin, for $7.14 million from Bayside Townhomes LLC on June 17, 2026.
- • The property features 1990s-vintage construction with three-bedroom units averaging 1,500 square feet, located at 1523 Sheridan Road near Carthage College and Lake Michigan waterfront, with 100% occupancy at time of sale.
- • CBRE's transaction team (Matson Holbrook, Gretchen Richards, and Sean Beuche) represented the seller, citing strong investor demand for value-add multifamily assets in the submarket and attractive assumable debt as key acquisition drivers.
- • Campbell Creek Communities positioned the acquisition as a value-add opportunity, highlighting the property's established market position and resident base while signaling intent to improve operational fundamentals and deliver investor returns.
- • Unit amenities include private entrances, attached garages, in-unit washers and dryers, and private patios/balconies, supporting the property's positioning as an attractive repositioning candidate within the Kenosha multifamily market.
Summary
Campbell Creek Communities LLC completed the acquisition of Bayside Townhomes, a 32-unit multifamily community in Kenosha, Wisconsin, for $7.14 million in a transaction facilitated by CBRE on June 17, 2026. The property, located at 1523 Sheridan Road, was sold by Bayside Townhomes LLC and achieved 100% occupancy at the time of closing.
The asset represents a strategic value-add acquisition for the buyer. Bayside Townhomes features 1990s-vintage construction with three-bedroom floor plans averaging 1,500 square feet. Unit amenities include private entrances, attached garages, in-unit washers and dryers, patios and balconies—features typical of well-maintained multifamily communities seeking operational and capital improvements. The property's proximity to Carthage College and the Lake Michigan waterfront positions it within a desirable Kenosha submarket.
CBRE's transaction team, led by Matson Holbrook, Gretchen Richards, and Sean Beuche, represented the seller. Holbrook stated that "we continue to see strong investor demand for 1990s-vintage assets" and attributed Bayside's appeal to its "unique positioning within this submarket, coupled with attractive assumable debt." This characterization underscores the buyer's ability to leverage existing financing to optimize capital structure—a key consideration for private equity-backed acquisitions in the multifamily space.
Campbell Creek Communities emphasized its acquisition strategy focused on established communities with operational upside potential. A company representative noted the property as "exactly the kind of asset we seek out, a well-located, value-add community where we can improve fundamentals and deliver strong returns for our investors." The existing resident base and full occupancy provide a stable platform for implementation of value-creation initiatives.
The transaction reflects continued institutional investor appetite for stabilized multifamily assets in secondary markets, particularly properties with capital improvement opportunities and assumable debt financing that can enhance risk-adjusted returns.
The asset represents a strategic value-add acquisition for the buyer. Bayside Townhomes features 1990s-vintage construction with three-bedroom floor plans averaging 1,500 square feet. Unit amenities include private entrances, attached garages, in-unit washers and dryers, patios and balconies—features typical of well-maintained multifamily communities seeking operational and capital improvements. The property's proximity to Carthage College and the Lake Michigan waterfront positions it within a desirable Kenosha submarket.
CBRE's transaction team, led by Matson Holbrook, Gretchen Richards, and Sean Beuche, represented the seller. Holbrook stated that "we continue to see strong investor demand for 1990s-vintage assets" and attributed Bayside's appeal to its "unique positioning within this submarket, coupled with attractive assumable debt." This characterization underscores the buyer's ability to leverage existing financing to optimize capital structure—a key consideration for private equity-backed acquisitions in the multifamily space.
Campbell Creek Communities emphasized its acquisition strategy focused on established communities with operational upside potential. A company representative noted the property as "exactly the kind of asset we seek out, a well-located, value-add community where we can improve fundamentals and deliver strong returns for our investors." The existing resident base and full occupancy provide a stable platform for implementation of value-creation initiatives.
The transaction reflects continued institutional investor appetite for stabilized multifamily assets in secondary markets, particularly properties with capital improvement opportunities and assumable debt financing that can enhance risk-adjusted returns.
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