Michigan multifamily complex changes hands

NYC buyer makes first acquisition in Detroit area

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Hendricks & Partners is pleased to announce the sale of Townhomes of Meadowbrook, located at 2582 Davison in Auburn Hills, Mich. The 230-unit apartment community was sold for $15.2 million. The seller was EQR-Townhomes of Meadowbrook LLC of Chicago. The buyer was BR Meadowbrook LLC of New York, N.Y. This is the buyer's first apartment acquisition in the Detroit market. Its goal is to make strategic capital improvements and sell the townhomes as condominiums.  Kevin Dillon and Jason Talbot of the Detroit office of Hendricks & Partners negotiated the transaction. Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....