268-UNIT APLINE LAKE APARTMENT COMPLEX SELLS

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JACKSON, MICH. — Royal Oak, Mich.-based Alpine Lake LLC has acquired Alpine Lake, a 268-unit multifamily community in Jackson. Located at 665 N. Alpine Lake Drive, the property sold for $4.6 million. Constructed in 1988, the 34-building complex surrounds a central lake. The seller was Wells Fargo Bank N.A. Successor by Merger to Wells Fargo Bank MN N.A. (FKA Norwest Bank MN, National Association) as Trustee for the Registered Holders of GMAC Commercial Mortgage Securities Inc., Mortgage Pass-Through Cert, series 1999-C1 of Dallas. Kevin Dillon and Cary Scott Belovicz of Hendricks & Partners' Michigan office represented the buyer.

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