Birmingham, Mich.-based Hendricks & Partners recently helped sell Grande Pointe, a 48-unit apartment community in Grand Blanc, Mich.
The property was sold for an undisclosed price in an REO sale, with six offers fielded.
Built in 1969, Grande Pointe features four one-bedroom and 44 two-bedroom units. The property is located close to Interstate-475, Interstate-75, US-23 and Interstate-69.
Bank of America was the property’s seller. Grande Pointe, LLC of Genesee, Mich., is the buyer. This buyer plans extensive renovations to the property. The asset was only 60 percent occupied at the time of closing.
Mark Rohr and Eric Taylor of the Michigan office of Hendricks & Partners on behalf of the seller.
