ORCHARD LAKE, Mich., Oct. 9, 2008 — Princeton Enterprises, a privately held real estate investment company based in Orchard Lake, Mich. is pleased to announce the purchase of Rochester Square Apartments, a 90 unit multifamily apartment community located in Rochester, Mich.
Princeton Enterprises acquired Rochester Square Apartments on October 8, 2008 from Consolidated Management, Inc. (CMI) with assumed in place financing through Great Lakes Financial Group and Freddie Mac. The transaction was brokered by Michael Barron, Paul Davis, and Andy Daitch, located in the Detroit offices of Marcus & Millichap Real Estate Investment Services.
Rochester Square Apartments is within walking distance to charming downtown Rochester, that attracts local residents and tourists to its shops, restaurants, and professional service businesses. The downtown area is surrounded by natural beauty, waterways, parks, and winding trails. Rochester Square offers one and two bedroom apartments with beautiful grounds and a quaint private park overlooking Paint Creek.
“We are very pleased with the acquisition of Rochester Square due to its outstanding condition, its great location and our ability to enhance the performance of a well built asset,” commented Matt Lester, Founder and Chief Executive Officer of Princeton Enterprises. “The Rochester area is a very strong and stable community that offers employment, educational, and recreational elements all within walking distance.”
For additional information on this announcement or Princeton Enterprises, please contact Michele Dreer at (248) 683-2500 or firstname.lastname@example.org.
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.