STERLING AMERICAN PROPERTY ACQUIRES 440-UNIT MULTIFAMILY COMPLEX

YPSILANTI, MICH. — Sterling American Property Inc., in a joint venture with Minneapolis-based Timberland Partners, has acquired the Hunt Club, a 440-unit apartment community located at 4685 Hunt Club Dr. in Ypsilanti. Sterling American Property has acquired the facility from Denver-based Apartment Investment and Management Co. for an undisclosed amount. Situated near Ann Arbor, Mich., the 390,000-square-foot complex consists of one- and two-bedroom units. Amenities at the facility include an outdoor swimming pool, sand volleyball, fitness center and indoor spa. Sterling has plans to invest approximately $3 million for capital improvement projects aimed at enhancing the property. Timberland Partners will manage the property, which will be renamed The Hamptons of Cloverlane. Tyler Anderson and Sean Cunningham of CB Richard Ellis’ Phoenix office represented the seller in the transaction.