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Princeton Enterprises Acquires Castlebrook Apartments


BLOOMFIELD HILLS, Mich., Mar 1, 2012 — Princeton Enterprises, a privately held real estate investment company based in Bloomfield Hills, Mich. is pleased to announce the purchase of Castlebrook Apartments, a 152 unit multifamily apartment community located in Marietta, Ga. on February 3, 2012.

Princeton closed on Castlebrook Apartments with the assistance of brokers Bill Shippen and Chad DeFoor from the Atlanta office of ARA. The seller was Fannie Mae who foreclosed on the asset and hired Tritex Real Estate Advisors, Inc. to facilitate the sale.

Castlebrook offers a variety of spacious 1, 2 and 3 bedroom units, many of which are newly renovated and feature unique floorplans, open kitchens, multiple bathrooms, walk in closets, washer and dryer connections, and a private patio or balcony. The community itself is beautifully landscaped and provides a wide expanse of amenities including a clubhouse, fitness center, swimming pool, community laundry area, and playground. Castlebrook is conveniently located on the outskirts of Atlanta and close to freeways I-75 and I-285 for easy access around the surrounding area.

“We are pleased to expand our holdings in metropolitan Atlanta and feel Castlebrook Apartments is a well located and well built asset in the Marietta market,” commented Matt Lester, Founder and Chief Executive Officer of Princeton Enterprises.

For additional information on this announcement or Princeton Enterprises, please contact Michele Dreer at (248) 683-2500 or mdreer@prinmgmt.com.

Princeton Enterprises, L.L.C. located in Bloomfield Hills, Mich., is a premier real estate acquisition, development, and property management company that enjoys one of the finest reputations for successfully acquiring, repositioning and operating a diverse portfolio of real estate assets. Founded in 1994 by Matthew B. Lester, the company has grown to more than 425 employees, overseeing over 80 properties and 14,500 individual apartment units in Michigan, Ohio, Indiana, Kentucky, Georgia, North Carolina and South Carolina.

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