NORTHVILLE, MICH. — Commercial Property Advisors (CPA) has arranged the sale of Northridge Meadow Apartments, a 112-unit multifamily community in Northville, for $7.8 million to Northridge Ventures LLC. The property, located at 19439 Northridge Drive, totals 92,120 square feet. Cary Belovicz of CPA represented the seller, Northridge Apartments.
OAK PARK, MICH. — Commercial Property Advisors has brokered the sale of Providence Green Apartments located at 25500 Greenfield Road in Oak Park. Loop on Greenfield LLC bought the 717-unit apartment complex located north of Detroit from Wood Stone Providence Green LLC for $15.2 million. The 526,693-square-foot property was 33 percent occupied at closing and will be renamed The Loop on Greenfield.
FARMINGTON HILLS, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 15,660-square-foot industrial building located at 2410 Monroe St. PT Unlimited LLC purchased the building from Monroe Bank and Trust. Greg Hornby of Friedman represented both the buyer and the seller in the transaction.
DETROIT — Triton Properties has sold The Van Dyke Manor for $1.9 million to Paul Zulewski of 1000 Van Dyke Investments LLC. Commercial Property Advisors was the listing broker for the seller. The Van Dyke Manor features 38 units, which sold for $50,000 per unit.
ROCHESTER, MICH. — Bernard Financial Group has arranged a $3.4 million life company loan for M150 LLC for a retail property located at 3175 S. Rochester Road, a 15,400 square-foot property in Rochester. Dave Dismondy originated the loan, and the lender, Genworth Financial, is an exclusive correspondent of Bernard Financial Group, which will be partially servicing the loan.
SOUTHFIELD, MICH. — Marcus & Millichap has brokered the sale of Country Corner Apartments, a multifamily property located at 30300 Southfield Road in Southfield. The 211-unit apartment community sold for $17 million, or $80,970 per unit. Built in 1966 on 16.6 acres, the property consists of 29 buildings and features an outdoor pool with sundeck, clubhouse, fitness center, carports and laundry facilities. The community features seven apartment- and townhouse-style floor plans ranging in size from 1,100- and 1,200-square-foot one-bedroom/one-bath units to 1,800-square-foot two-bedroom/2.5-bath townhomes with full basements. Simon Jonna and Ryan Cockerill of Marcus & Millichap represented the seller, while Earl Elliott, Chris Futo and Gordan Navarre, also of Marcus & Millichap, represented the buyer. The names of the seller and buyer were not released.
PLYMOUTH, MICH. — Bernard Financial Group has arranged a $3.3 million loan for Plymouth Commerce Center in Plymouth. The property features 76,500 square feet of office space. Neil Gorosh of Bernard Financial secured the financing for the borrower, Plymouth Commerce Center LP. The lender, Advantus, is an exclusive correspondent of Bernard Financial Group, and will fully service the loan.
DETROIT — Bernard Financial Group has arranged a $30.4 million 221 D(4) FHA loan for the development of DuCharme Place in Detroit’s Lafayette Park neighborhood. Being constructed on a vacant lot, the four-building multifamily property will consist of 185 apartment units. Dave Dismondy of Bernard Financial originated the loan for the undisclosed borrower.
SPRING LAKE AND GRAND RAPIDS, MICH. — NAI Wisinksi of West Michigan has brokered two leases totaling 4,552 square feet in Michigan. In the first transaction, Kevin B. Megley leased 1,452 square feet of office space at 723 E. Savidge St. in Spring Lake. Megley is relocating his law office to the space. Jason Makowski and Tim Platt of NAI Wisinski represented both the lessee and lessor in the five-year lease transaction. In the second deal, Craft Retail Inc. leased 3,100 square feet of retail space at 678 Front St. SW in Grand Rapids. The United Kingdom-based company plans to use the space to expand its operations. Mary Anne Wisinski of NAI Wisinski represented the tenant, while Makowski represented the undisclosed landlord in the five-year lease transaction.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has brokered the lease of 9,160 square feet of retail space in Grand Rapids. Dollar Tree will occupy the space at Remembrance Landing retail center located at 3500 Remembrance Road. The space is currently is being renovated with an anticipated opening date of mid- to late January 2016. Rod Alderink of NAI Wisinksi represented the undisclosed landlord in the transaction.
