Marcus & Millichap recently closed the sale of the Grand Rapids 6 Apartment Portfolio, a 1,651-unit portfolio of six multi-family properties located in and around Grand Rapids, Mich.
The portfolio sold for $102.15 million. The sale is the largest commercial real estate transaction recorded in Michigan so far this year.
Earl Elliott, vice president of investments, and senior associates Gordon Navarre and Christopher Futo represented the seller and the buyer, a New York-based private investment firm.
“The Grand Rapids 6 Apartment Portfolio is a true long-term investment built on Grand Rapids’ rich history of quality and family values,” said Elliott in a written statement. “All of the properties are within 15 minutes of each other and make a huge statement in the market.”