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PRINCETON ENTERPRISES ACQUIRES RIVERCREST ARMS APARTMENTS

Rivercrest Arms

Rivercrest Arms

Bloomfield Hills, Mich., April 15, 2015 — Princeton Enterprises, a privately held real estate investment company based in Bloomfield Hills, Mich. is pleased to announce the purchase of Rivercrest Arms Apartments located in Clinton Township, Mich.

In a transaction that closed on April 9, 2015, Princeton acquired the 200 unit garden style apartment community with the assistance of Peter Jankowski of CORE Partners, who brokered the transaction on behalf of a private seller.

Rivercrest Arms Apartments offers larger than average studio, one and two bedroom apartment homes featuring renovated and spacious kitchens with separate dining areas, wall-to-wall closets, additional storage, central heat and air conditioning, patio or balcony, window treatments, and more. The community amenities include an outdoor swimming pool, ample parking, locked building entrances, and laundry facilities in each building.

Located off Metropolitan Parkway, Rivercrest Arms is just minutes from Lake Saint Clair and Metro Beach Metropark which features numerous beaches, marinas, and boat launches; an 18-hole golf course; fitness trails; a nature study area and nature center; numerous parks and other activities; an Olympic-sized swimming pool with diving boards and water slides; and a paved walking, biking, and skating trail along picturesque Lake Saint Clair. Rivercrest Arms is only minutes from Selfridge Air National Guard Base, local golf courses, shopping, dining, and entertainment venues, as well as Interstates 94, 75, 696, and M-59.

“The location of Rivercrest Arms, on Metropolitan Parkway between Gratiot and Harper, is in a very strong multifamily housing market and will be an excellent addition to our other eastside communities,” commented Matt Lester, Founder and Chief Executive Officer of Princeton Enterprises. “We are pleased to have acquired this well maintained asset from the family that originally owned and built the property.”

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

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About Princeton Enterprises:
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 including multifamily housing, office, storage, and other commercial facilities. Founded in 1994 by Matthew B. Lester, the company has acquired 115 properties with an aggregate value of $1 Billion and has grown to more than 575 employees and nearly 20,000 individual apartment units in Alabama, Florida, Georgia, Indiana, Kentucky, Michigan, Missouri, North Carolina, Ohio, and South Carolina.

Links:
1. www.princetonenterprises.com

Copyright ©2015 Princeton Enterprises unless otherwise noted.
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