HENDRICKS & PARTNERS ARRANGES $16 MILLION SALE OF LAFAYETTE TOWERS
DETROIT — Hendricks & Partners has arranged the sale of Lafayette Towers, 584-unit apartment community located at 1301-1321 Orleans St. in Detroit, for $16 million. The property comprises two 22-story towers and a two-level parking deck situated on 9 acres within Lafayette Park. The property features amenities such as a 24-hour attended gate, a fitness center, laundry facilities, storage facilities and a heated, outdoor swimming pool with a sundeck. It was 95 percent occupied at the time of closing. Mark Rohr and Eric Taylor of Hendricks’ Detroit office represented the buyer, New York-based The Northern Group, as well as the seller, Chicago-based Lafayette Towers LP.