Marquette Companies and a fund managed by DRA Advisors sold The Haven at Ann Arbor, a 520-unit apartment community in Ann Arbor, Michigan, to Abacus Capital Group, a New York-based real estate investment firm.
Having purchased The Haven in 2017, when it was then known as Village Green of Ann Arbor, Marquette undertook a $13 million revitalization project that included extensive exterior improvements and unit interior renovations, adding features such as granite kitchen countertops, new cabinets and hardware, and upgraded lighting and plumbing fixtures.
Marquette also renovated the property’s common amenities and improved its site operations to provide a better resident experience. At the time of the sale, The Haven was 95% occupied.
The Haven at Ann Arbor, located about 15 minutes from the University of Michigan, includes studio, one- and two-bedroom units, ranging from 650 to 1,075 square feet. The open floor plans include renovated kitchens, as well as ample storage and private outdoor space. Community amenities include a clubhouse with a residents’ lounge, featuring a kitchen and pool table room; three fitness centers; an outdoor pool with an adjacent terrace, including multiple grills and areas for outdoor dining; an enclosed dog park with an agility course; tennis courts; nature trails and an on-site car washing station.
