SOUTHFIELD, MICH. — Hendricks & Partners has brokered the sales of two North Park Place properties in Southfield. In the first transaction, a private investment group acquired North Park Place (16400 Building), which is located at 16400 N. Park Place Dr. in Southfield. The 79-unit apartment community sold for an undisclosed price. The seller was Philadelphia-based North Park Place Owner A LLC/North Park Place Owner B LLC/North Park Place Owner C LLC. Kevin Dillon of Hendricks & Partners’ Michigan office represented the seller in the transaction.
In the second transaction, North Park Place (16300 Building) was sold for $2.2 million to an undisclosed entity. Located at 16300 N. Park Dr., the apartment property offers 127 units. The property was sold through a court-appointed receiver, Troy, Mich.-based The Hayman Company. The seller was Troy-based AG-BR NPP 16300A OWNER LLC/AG-BR NPP 16300B OWNER. Cary Scott Belovicz and Dillon of Hendricks’ Michigan office represented the seller in the transaction.