Solaire Active Adult Community in Southfield, Michigan, has been sold for approximately $20 million. The complex is less than a mile from Providence Hospital.
The property has over 382 units for 55+ residents. Southfield, Michigan has been in the news over the last few months due to its office and commercial space availability. As many know, it also has an abundance of residential apartment complexes to offer central living to Metro Detroit.
Southfield’s city services, size, and local merchants make the city an ideal location for budget living or office locations.
BINGHAM FARMS, Mich., March 12, 2015 /NEWS.GNOM.ES/ — 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.”
Gnomes National News Service: http://news.gnom.es/pr/fourmidable-announces-sale-of-solaire-active-adult-community-in-southfield-michigan
