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Sat, 31 Oct 2020 19:15:22 -0500
2018-03-28 Print

Income Property Organization Completes Deal on Bailey Park Apartments


Income Property Organization Completes Deal on Bailey Park Apartments

FOR IMMEDIATE RELEASE / PRURGENT

Income Property Organization (IPO) has completed the sale of Bailey Park Apartments in Battle Creek, Mich., a 267-unit community that was financed through Chemical Bank.

At the time of sale, Bailey Park was 92 percent occupied. The sale price was $11 million.

With its current occupancy, Bailey Park represents a 7 percent cap rate. The community has recently undergone nearly $4 million in capital improvements.

IPO brokered the sale of Bailey Park to a local buyer on behalf of a seller who was out of state.

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 http://www.incomepo.com or contact Greg Coulter at (248) 932-0300.

 
Contact Info
sue voyles
6421 Inkster Rd., Suite 200 | Bloomfield Hills, MI 48301

Phone: 7346672005

Website: http://www.incomepo.com