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Princeton Enterprises Acquires Cedar Creek Apartments

 

Cedar Creek

ORCHARD LAKE, Mich., Jan. 8, 2009 — Princeton Enterprises, a privately held real estate investment company based in Orchard Lake, Mich. is pleased to announce the purchase of Cedar Creek Apartments, a 256 unit multifamily apartment community located in Okemos, Mich.

The property was acquired on January 6, 2009 from a private seller affiliated with Brookline Management and in cooperation with Midland Loan Services on behalf of the lender. The transaction was brokered by Mr. Kevin Dillon, out of the Detroit office of Hendricks & Partners.

Cedar Creek is strategically situated in the quiet suburbs of East Lansing/ Lansing, and located within minutes of educational, employment, and commerical centers surrounding the State Capitol. Offering an array of one, two and three bedroom garden-style apartment homes, Cedar Creek features spacious floorplans with one or two baths, walk in closets, and a private patio or balcony. Community amenities include a swimming pool, fitness center, picnic area, and carports.

“We are very excited to enter the Okemos market, with its close proximity to Lansing and the surrounding area,” commented Matt Lester, Founder and Chief Executive Officer of Princeton Enterprises. “Despite the recent economic climate in the state of Michigan, we believe there is great value in the local real estate market and feel Cedar Creek is an excellent investment opportunity.”

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 Orchard Lake, 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 nearly 350 employees, overseeing 65 properties and 11,000 individual apartment units in Michigan, Ohio, Indiana, Georgia, North Carolina and South Carolina.

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