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FOURMIDABLE Brokers The Purchase Of $12.5 Million In Michigan Properties

Jul 23, 2015

FOURMIDABLE Real Estate Services served as the Buyer's Broker for the purchase of two Michigan apartment communities and an office building. The transactions totaled approximately $12.5 million.

East Bay Village, which is now owned by East Bay Village Properties, LLC of Petaluma, California, represents the largest portion of the deal, at $8.1 million. FOURMIDABLE, a Bingham Farms-based national real estate company, will also act as Managing Agent for the 208-unit community in Essexville, outside of Bay City.

“We are excited to partner with our new clients as they venture into the Michigan marketplace,” said FOURMIDABLE President Scott Allen. “We are confident that our company's 40 years' worth of knowledge and experience in operating multifamily housing will help increase the asset for our valued client.”

The 40-unit Edgewater Apartments and adjacent 15,000-square foot sales office are located in Greenville on the state's west side near Grand Rapids. Edgewater is noted as a luxury community with units that feature privately attached garages and front entrances in a scenic, natural setting. Both properties are now owned by Edgewater Apartment Properties, LLC, also of Petaluma. FOURMIDABLE anticipates assuming the Management of this property in August, 2015.

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