CBRE BROKERS SALE OF PARKLANE APARTMENTS

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BIG RAPIDS, MICH. — The Detroit Multi-Housing Group of CB Richard Ellis (CBRE) has brokered the sale of Parklane Apartments, a 48-unit multifamily located in Big Rapids. The community, which was built in 1970, consists of four three-story, garden-style buildings situated on 4.7 acres on Fuller Avenue. The apartment units each contain two bedrooms; occupancy was 98 percent at the time of closing. CBRE’s Keith Johnson and Rob Stone represented both undisclosed parties in the transaction. The acquisition price was not disclosed.

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