Income Property Organization Announces 5 Multifamily Property Sales Totaling More than $36M
The noteworthy deals include:
- Bloomfield Square Apartments, a 259-unit community built in 1970 and located at 3161 Bloomfield Lane in Auburn Hills, Mich. IPO closed on the property on July 14, 2016, at a 6.68% cap rate for $17 million, or $65,637 per unit, to a foreign investor. IPO team members J.J. Zwada and Greg Coulter represented the seller; J.J. Zwada and A.J. Beachum, JD, represented the purchaser.
- Campus Habitat Apartments, a student housing project consisting of 82 units and 224 beds and located next to Campbell University in Lillington, N. C., sold on July 27, 2016 at an 8.68% cap rate with a sales price of $7.7 million, or $93,902 per unit. Campus Habitat was the seller and a New York investment group acquired the asset. J.J. Zwada represented the seller and Greg Coulter represented the buyer.
- Newberry Apartments, a 110-unit ranch-style community at 106 Falls Court in Delta Township, Mich. sold at a 7.40% cap rate for $4.73 million, or $43,000 per unit. IPO closed on this off-market transaction on August 26, 2016, within 60 days of listing. The seller was an investment company out of Atlanta, Georgia and the purchaser was a local investor. A.J. Beachum, JD and J.J. Zwada of IPO represented the seller and A.J. Beachum, JD, represented the purchaser.
- A 136 townhouse-unit complex, Marina Bay Club Apartments, located at 14221 Park St in Gibraltar, Mich, was sold at an 8.50% cap rate for$4.55 million on July 29, 2016. The seller was a Trust Fund and the purchaser was a foreign investor. Greg Coulter of IPO represented the seller and Jason Gardner represented the purchaser.
- Marwood Apartments at 53 Marston St. in Detroit, a 53-unit redevelopment deal at the end of the M-1 Rail in the New Center Area, sold on Sept. 1, 2016 at a 6.50% cap rate for $2.05 million, or $38,679 per unit. The seller was an investment partnership out of Southfield, Mich. A.J. Beachum, JD and Greg Coulter of IPO represented the seller and Greg Coulter represented the purchaser.
Income Property Organization in Bloomfield Hills, Mich. offers customized brokerage services that are designed to meet the specific needs of a wide range of clients -- private owners as well as institutional investors -- who want to buy or sell income property. To learn more or inquire about multifamily investment opportunities, visit www.incomepo.com or contact Greg Coulter at (248) 932-0300.
PO Box 871346
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Income Property Organization Announces 5 Multifamily Property Sales Totaling More than $36M here
News-ID: 362980 • Views: 652
More Releases from Income Property Organization
Income Property Organization closes on two Southfield complexes
Income Property Organization has closed on a portfolio sale of two high-rise assets located in Southfield, Mich., The Franklin and 12 North Apartments, with a total of 374 units. An international purchaser from Israel acquired the assets, using acquisition financing through Fannie Mae. With the portfolio operating exceptionally well, the purchaser plans to continue with current operations. Given the sales price of $30,600,000 (or $81,818 per unit), the capitalization rate was 6.5 percent. Both
Income Property Organization marks a ‘recording setting’ year
Bloomfield Hills, MI - Jan. 18, 2018 - Income Property Organization (IPO) reported another recording breaking year in 2017. The company brokered the sale of 70 multi-family communities in Michigan and Ohio, representing $150 million in sales volume. "We were able to deliver some tremendous results for our sellers," said Greg Coulter, managing member. "Many of our transactions were acquired by international and out-of-state investors, demonstrating the depth of
Income Property Organization and its Execs Honored with CoStar 'Power Broker' St …
Two executives with Income Property Organization, a provider of customized multifamily brokerage services, have been honored with "Power Broker" status by CoStar Group, Inc., a leading provider of commercial real estate information, analytics and online marketplaces. In addition, Income Property Organization as a firm was recognized with the Power Broker designation by CoStar Group. Gregory D. Coulter, founder and Managing Member of Income Property Organization, and A.J. Beachum, J.D., Associate Broker
Income Property Organization Lists 67-Unit Southfield Apartment Complex for Sale
Income Property Organization (IPO) is the listing brokerage for a 67-unit apartment complex in Southfield, Mich., the bidding for which is now open until March 15, 2017. The property, known as Wakefield Apartment Homes, is located in Michigan’s wealthiest county and the second most populated county in the state of Michigan. Current occupancy for Wakefield is 92.5 percent. The newly renovated complex is located on 1.62 acres of property and there
More Releases for IPO
Uber IPO: What Can We Expect?
Within the next few months, the Uber IPO is expected to hit the markets. Keep in mind that the company has confidentially filed its S-1 with the Securities and Exchange Commission (the document is usually not made public until a couple weeks before the offering). While we’ve seen many tech unicorns come public during the past couple years, the Uber deal will be in another league. Note that the capital raise
Flex Class Cancels IPO Plans Opts For Reverse Merger
Flex Class Holdings, the leading online skill development company has called off its plans for an IPO on the US markets and has opted for the reverse merger or a reverse IPO. The company is choosing between US and UK stock exchange. The company is also planning a initial coin offering. Under this Flex Class Holdings will acquire majority interest or shareholding in the already listed entity and will begin trading
Vulturis Data Launches Venture Capital IPO Yield Index
Vulturis Financial Data Services launched a venture-capital initial public offering yield index. Based on historical data pertaining to returns of IPOs, the index weighs the average returns and exhibits the feasibility and viability of offering public stock for a startup. The VC IPO Yield Index shows the return of VC IPOs relative to the number of filings on a monthly basis. The ratio utilizes the adjusted liquidity, or proceeds, of initial
Biggest-ever Israeli IPO paves way for driverless cars
Nearly a billion dollars richer, MobilEye seeks to put road safety technology on hundreds of car models BY DAVID SHAMAH August 3, 2014 Prof. Amnon Shashua of Hebrew University's Selim and Rachel Benin School of Engineering and Computer Science at the Faculty of Science, invented Mobileye, a system designed to prevent accidents by warning the driver in real time about dangerous situations and driving conditions. (Photo credit: Nati Shohat/Flash90). Technology was Licensed
Harver Group Releases IPO Forecast For July 2013
Tokyo based equity researcher Harver Group has released its predictions for the top performing IPOs of July 2013. Jul. 17, 2013 - CHUO-KU, Japan -- Peter Anderson, Senior Vice President of Mergers and Acquisitions at boutique equity research house Harver Group in Tokyo today approved the release of the company’s IPO forecast, written by the company’s head of investment analysis Mr. Nathan Marx and Director of Private Equity Mr. Stephen James.
Koyal Group Targets Largest Real Estate IPO in Recent Years
Tokyo based equity researcher Koyal Group expects the IPO of Brixmor Property Group to be a sound Investment for its clients. Jul. 22, 2013 - TOKYO, Japan -- On Thursday the 18th of July Blackstone Group LP filed with the Security and Exchange commission the initial public offering of one of its subsidiaries Brixmor Property Group, a real estate investment trust. They have announced that they are planning to raise $100