State: Michigan - MA

Commercial Real Estate Direct Staff Report American Campus Communities Inc. has sold the 606-bed Landmark student-housing property in Ann Arbor, Mich., for $100 million, or $165,016/bed, to Greystar Real Estate Partners. The property, at 1300 South University Ave., is two ...

Commercial Real Estate Direct Staff Report LCN Capital Partners has paid $147.25 million for the Farmers Insurance office complex, with 713,935 square feet outside of Grand Rapids, Mich. The New York investment manager bought the three-building property, at 5665 North ...

Morning Calm Management has paid $83.7 million for nine industrial buildings with about 1.5 million square feet in suburban Detroit. The Boca Raton, Fla., company bought the properties from Promanas, an Ann Arbor, Mich., real estate investment firm. NKF Capital ...

Commercial Real Estate Direct Staff Report Lightstone Value Plus REIT V Inc. has paid $70.3 million, or $183,073/unit, for the Valley Ranch Apartments in Ann Arbor, Mich. The New York REIT, whose shares do not trade on any exchange, bought ...

A venture led by Greenwich Hospitality Group has paid $23.2 million, or $129,609/room, for the 179-room West Bay Beach Holiday Inn Resort in Traverse City, Mich. The buyer plans to rename the four-story property Delamar Traverse City and will invest ...

Global Net Lease Inc. has paid $126.6 million, or $209/sf, for the industrial building at 15520 Wayne Road in the Detroit suburb of Romulus, Mich. The New York REIT, externally managed by AR Global, bought the 606,000-square-foot property from InSite ...

Commercial Real Estate Direct Staff Report The Lakeside Mall in the Detroit suburb of Sterling Heights, Mich., recently was appraised at a value of $22 million. That is down from a $47.9 million appraisal last December and $82.4 million last ...

Torchlight Investors is said to have paid more than $140 million, or $81,871/unit, for the Woodlake and Ramblewood Apartments, with a total of 1,710 units just outside of downtown Grand Rapids, Mich. The transaction, brokered by HFF, is believed to ...

Commercial Real Estate Direct Staff Report Procaccianti Hotel REIT Inc., which was formed earlier this year, has acquired its first property. The Cranston, R.I., company, whose shares do not trade on any exchange, paid $26.1 million, or $243,925/room, for the ...

Crain's Cleveland Business Retail Value Inc. has sold Grandville Marketplace, a 224,000-square-foot retail property in Grandville, Mich. The buyer was not identified. The property, at 4485-4655 Canal Ave. SW, is anchored by a Lowe's Home Improvement store.