Syndicated Equities Sells Luxury Apartment Complex Near Grand Rapids for $71.5M
ADA, MICH. — Syndicated Equities has sold Stone Falls of Ada, a 210-unit luxury apartment complex in Ada, about 10 miles east of Grand Rapids. The sales price was $71.5 million. Syndicated acquired the property with Highgate Capital Group LLC in 2018 for $45.8 million. Built in 2008, the property at 330 Stone Falls Drive is comprised of 21 two-story buildings. Syndicated and Highgate invested $1.5 million in renovations, including upgrades to the unit interiors and clubhouse amenities. Village Green was the property manager. The seller was undisclosed.