FOURMIDABLE Brokers the Purchase of $8.7 Million in Michigan Properties

- Pair of Apartment Communities Total 156 Units

News provided by

FOURMIDABLE

Sep 09, 2015, 09:10 ET

BINGHAM FARMS, Mich., Sept. 9, 2015 /PRNewswire-USNewswire/ -- FOURMIDABLE Real Estate Services recently served as the Buyer's Representative for the purchase of two apartment communities in Greenville, Michigan totaling approximately $8.7 million.

Continue Reading
FOURMIDABLE Real Estate Services recently served as the Buyer's Representative for the purchase of two apartment communities in Greenville, Michigan. Maplewood Square Apartments, a 104-unit market rate property, represents the largest portion of the transaction with a closing price of $5.32 million. The community is now owned by Edgewater Apartment Properties, LLC of Petaluma, CA. FOURMIDABLE will also act as Managing Agent for Maplewood Square.
FOURMIDABLE Real Estate Services recently served as the Buyer's Representative for the purchase of two apartment communities in Greenville, Michigan. Maplewood Square Apartments, a 104-unit market rate property, represents the largest portion of the transaction with a closing price of $5.32 million. The community is now owned by Edgewater Apartment Properties, LLC of Petaluma, CA. FOURMIDABLE will also act as Managing Agent for Maplewood Square.

Maplewood Square Apartments, a 104-unit market rate property represents the largest portion of the transaction with a closing price of $5.32 million. Meadow Ridge Apartments closed at $3.39 million and included an additional 52 units. Both communities are now owned by Edgewater Apartment Properties, LLC. The Petaluma, California-based company purchased three other Michigan properties earlier this year.

FOURMIDABLE, a Bingham Farms-based national real estate company, will also act as Managing Agent for both communities. The new owner plans to improve Maplewood Square with interior unit enhancements along with renovations to the building exteriors, including building siding and window replacements. Renovations are scheduled to be completed prior to the end of 2015.

"We are pleased to continue our partnership with our new clients and look forward to a long-term business relationship," said FOURMIDABLE President Scott Allen. "FOURMIDABLE is proud to be a partner with an owner that sees the value and potential of investing in the Michigan real estate market."

FOURMIDABLE is a national real estate management and brokerage company that specializes in managing, marketing and leasing market rate, tax credit, senior and family government assisted and public housing apartment communities. Founded in 1975, FOURMIDABLE currently manages 72 communities in eight states, with more than 7,400 units under management. FOURMIDABLE is a member of the elite AMO (Accredited Management Organization) and is an approved management firm for HUD, MSHDA and other State Agencies. Additionally, FOURMIDABLE affiliated companies offer support for property management companies and owners, including agility-pm, a provider of back office accounting, HR, IT and compliance support; eCrosstown, a provider of free WiFi amenity services to apartment residents; and ePhonz, a specialized telephone product for apartment management companies. 

For more information, please call 248-593-4610 or visit www.fourmidable.com. 

CONTACT:  Scott Allen, President
248-593-4610
Sue Voyles, Logos Communications
734-667-2005

Photo - http://photos.prnewswire.com/prnh/20150903/263708

   

SOURCE FOURMIDABLE

Related Links

http://www.fourmidable.com

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED