12/6/2007

Michigan senior apartment community brings $13.3M

by

The Gardens of Clinton

Clinton Gardens, LLC has purchased the Gardens of Clinton Apartments in Clinton Township, Mich., for $13.3 million from New York-based Centrum Clinton LP.

Earl Elliot of Marcus & Millichap represented both the buyer and seller in the transaction.

The 116-unit apartment complex is located at 24500 Metropolitan Parkway and contains 97,185 square feet. Situated on 6.24 acres, the senior multi-family community contains 64 one-bedroom and 52 two-bedroom units. The property sold for approximately $114,655 per unit.

Clinton Township is located roughly 27 miles north of Detroit and has a population of roughly 96,000 people.

Address: 24500 Metropolitan Parkway, Clinton Township, Mich.

Size: 116 units/97,185 square feet

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Filed Under: Multi-Family

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