The Solomon Organization Acquires Apartment Complex in Troy, Mich.

TROY, MICH. — The Solomon Organization has acquired Somerset Park, a 2,226-unit apartment community in Troy. Developed in the mid-1970s and located off Big Beaver Road, the property, which features a nine-hole golf course, is adjacent to the Somerset Collection, a luxury regional shopping mall, as well as the Somerset Hotel, Whole Foods Market and office buildings. Solomon plans to renovate the apartment interiors and upgrade commons areas, including recreational facilities. The Solomon Organization has acquired more than $500 million of residential property in the last 24 months, including 5,391 apartment units. The company now owns more than 12,700 apartment units in five states. The name of the seller and acquisition price were not released.