Berkadia closed the sale of Bloomfield Square, a 259-unit garden-style multifamily property in Auburn Hills, Michigan.
Senior managing directors Kevin Dillon and Jason Krug, senior directors Corey Krug and Rick Brace and director Charley Henneghan of Berkadia Detroit completed the $38.375 million sale on behalf of the seller, at a premium of more than 50% over the seller’s 2019 acquisition price.
The seller was Michigan-based Bloomfield Square Acquisition Partners, LLC. The buyer was New York-based Halt Management, and the deal closed on April 5.
Located at 3161 Bloomfield Lane, Bloomfield Square features one- and two-bedroom floor plans with walk-in closets. Community amenities include a swimming pool, a fitness center and a pet park. Residents are afforded convenient access to Pine Trace Golf Club, Oakland University and the shops and restaurants in Downtown Auburn Hills and Rochester, The Village of Rochester Hills and Somerset Collection in Troy.