Ann Arbor, Mich. – Sterling University Housing, the student housing division of The Dinerstein Companies, a Houston-based company that builds and operates apartment communities in 27 different states, has acquired 4Eleven Lofts near the University of Michigan in Ann Arbor. The 96-unit, 342-bed student housing community was 100 percent occupied at closing. Built in 2009, 4Eleven Lofts is a 10-story, high-rise community located two blocks from the University of Michigan’s Central Campus and in the heart of downtown Ann Arbor. It features 10-foot ceilings, flat panel HD televisions, modern kitchens and single or shared bedrooms. The property was in escrow for approximately 60 days and was purchased for an undisclosed amount. Holliday Fenoglio Fowler represented the parties involved in the transaction.
— Daniel Beaird