East Lansing, Mich. — Triad Real Estate Partners has arranged the $14 million sale of The Hunters Ridge Apartments, a 170-unit multi-family property located in East Lansing.
The Hunters Ridge complex was originally constructed in 2006 and is located 3.5 miles north of Michigan State University. The seller was a local developer and the buyer is a well-established regional owner of multifamily and student housing based in Champaign, Illinois.
The new owner will continue to operate the stabilized asset as a combination student and multi-family property. The final sales price reflected a price per unit of $83,625.