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Princeton Enterprises Acquires Tanglewood Apartments

Tanglewood

Bloomfield Hills, Mich., October 9, 2012 — Princeton Enterprises, a privately held real estate investment company based in Bloomfield Hills, Mich. is pleased to announce the purchase of the Tanglewood Apartments, formerly known as Maple Creek and Wellington Manor Apartments, in Woodhaven, Mich.

Princeton Enterprises closed on Tanglewood Apartments, and combined the two properties, Maple Creek and Wellington Manor, into one community consisting of 104 garden style units. The property was purchased on October 4, 2012 with the cooperation of The Hayman Company, who served as court appointed receiver and third party management agent. Todd Szymczak, broker for NAI Farbman Group, handled the transaction on behalf of the seller.

Tanglewood Apartments offers a diverse selection of apartment homes including studio, 1, 2, and 3 bedrooms ranging in size from 600 – 1,000 sq. ft. Individual apartments host a variety of amenities that may encompass updated apartments, spacious rooms, a utility room with full size laundry, eat in kitchen, dishwasher, and additional storage space.

The community itself is located within a mile of interstate I-75 and historic Grosse Ile, a series of islands located in the Detroit River that is well known for its small-town charm, country clubs, municipal airport, and community events. Additionally, Tanglewood is just a short drive to Detroit Metro Airport, International Wildlife Refuge Unit, numerous state parks, entertainment, and major employers.

“The acquisition of these two properties will further strengthen our operation in this market,” commented Matt Lester, Founder and Chief Executive Officer of Princeton Enterprises. “Tanglewood Apartments, under our management, will be one of the premier communities in the Woodhaven market.”

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 450 employees, overseeing more than 80 properties and 15,000 individual apartment units in eight states, including Michigan, Ohio, Indiana, Kentucky, Georgia, Florida, North Carolina and South Carolina.

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