PeakMade Real Estate and Mortenson Development Open Theory Madison, Bringing a New Student Living Experience to UW–Madison

PeakMade Real Estate and Mortenson Development Open Theory Madison, Bringing a New Student Living Experience to UW–Madison

ATLANTA, GA. | September 14, 2026 – PeakMade Real Estate (“Peak”) and Mortenson Development, Inc. (“Mortenson”) have opened Theory Madison, a new 213-unit, 716-bed student housing community designed to bring UW–Madison students closer to campus, downtown Madison and the everyday experiences that define campus life. Located just steps from campus near State Street and North Lake Street, Theory Madison welcomed its first residents ahead of the Fall 2026 semester.

Theory Madison was designed around how students study, recharge, connect and experience Madison. The community offers studio, one-, two-, three-, four- and five-bedroom apartment homes, along with two-story townhome options. Apartments come fully furnished with modern features and finishes, including quartz countertops, stainless steel appliances, hardwood-style flooring, upgraded lighting and cabinetry, electronic entry systems, custom furniture and private outdoor patios in select units.

Residents have access to expansive rooftop spaces with a swim spa and outdoor gathering areas, a fitness center, sauna, private and group study areas, co-working spaces, a café with coffee and cold brew, and clubhouse-style social spaces. Theory Madison also offers a pet spa, bike storage, covered parking and community-wide Wi-Fi.

Theory Madison also advances broader community priorities by transforming an underutilized downtown site into a mixed-use development that supports student housing demand, enhances activity along Lake Street and strengthens the connection between University Avenue, State Street and the broader downtown district. The property offers views of campus landmarks, downtown Madison, the Wisconsin State Capitol and the surrounding lakes.

The project is pursuing LEED Silver certification and includes affordably priced beds for qualified students through a collaboration with the University of Wisconsin Department of Financial Aid.

“Madison is one of the nation’s premier student housing markets, and together with Mortenson Development, we identified a unique opportunity to create a highly differentiated community in an exceptional location adjacent to UW–Madison,” said Mike Paluga, Senior Vice President of Development at PeakMade Real Estate. “Theory Madison combines thoughtful design, best-in-class amenities and unmatched proximity to campus to deliver a living experience that reflects the energy, character and spirit of Madison. We’re excited to welcome our first residents and see the community become part of the UW–Madison experience.”

“Theory Madison brings together the housing, access and daily experiences that help students feel connected to campus and the city around them,” said Nate Gundrum, Vice President at Mortenson Development. “It is a meaningful addition to one of Madison’s most important campus gateways and to the long-term vitality of downtown.”

About PeakMade Real Estate

PeakMade Real Estate, based in Atlanta, GA, is a diversified real estate services company, offering property management, development, and consulting services for build-to-rent, conventional multifamily and student apartments. PeakMade Real Estate was built to execute strategies consistent with the goals and long-term investment strategies of its partners. When something is PeakMade, it’s not only built upon expertise and experience, it’s built upon a foundation of community. For more information on PeakMade Real Estate, visit www.peakmade.com

About Mortenson and Mortenson Development
Mortenson is a U.S.-based builder, developer, manufacturer, and engineering services provider serving commercial, institutional, infrastructure, and energy markets. With operations across the U.S., the company brings together integrated planning, design, construction, digital, and operational expertise to help customers navigate complexity, reduce risk, and deliver high-performing assets that create lasting value for their businesses and communities. For additional information, visit www.mortenson.com.