FOURMIDABLE Announces Sale of Solaire Active Adult Community in Southfield, Michigan
BINGHAM FARMS, Mich., March 12, 2015 /PRNewswire-USNewswire/ -- FOURMIDABLE Real Estate Services, a Bingham Farms-based national Commercial and Residential Real Estate Brokerage division, announces the brokerage and sale of Solaire Active Adult Community in Southfield, Michigan. The transaction was reported to be approximately $20 million.
Recently, the FOURMIDABLE Commercial and Residential Real Estate Brokerage division was the listing broker and seller for additional properties in the Solaire owner's portfolio: Eagles Landing of Troy Apartments, Eagles Landing of Washington Apartments, Eagles Landing Office Park and Rochester Commons. The $60 million portfolio of apartment communities and office developments represents the division's largest sale to date.
"We are pleased that FOURMIDABLE will provide complete management services to the residents of Solaire," says Scott Allen, president of the company.
Solaire, which was built in 1970, has 382 one-, two- and three-bedroom apartment units and is conveniently located for its 55-year-old-plus senior population less than a mile from Southfield's Providence Hospital and Medical Center. The complex includes two 10-story high-rise buildings and the buildings have undergone both interior and exterior renovations since 2008.
Scott Allen continues, "Our brokerage division, which made this transaction possible, adds an enhanced level of service that FOURMIDABLE can provide to property owners, which is another value-added benefit for our clients. We bring a unique perspective to real estate brokerage because we have been an owner and operator of multifamily housing for over 40 years which allows us to offer a personalized approach to our clients."
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 70 communities in eight states, with more than 7,000 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; e-Crosstown, a provider of free Wi-Fi amenity services to apartment residents; and e-Phonz, a specialized telephone product for apartment management companies.
For more information, please call 248-593-4600 or visit www.fourmidable.com
CONTACT: Scott Allen, President
248-593-4610
Photo - http://photos.prnewswire.com/prnh/20150312/181275
SOURCE FOURMIDABLE
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