ORCHARD LAKE, Mich., Sep. 8, 2009 — Princeton Enterprises, a privately held real estate investment company based in Orchard Lake, Mich. is pleased to announce the purchase of Lexington Manor Apartments, a 120 unit multifamily apartment community located in Brighton, Mich.
Princeton Enterprises acquired Lexington Manor on September 4, 2009 from a private owner who was motivated to sell in light of the difficult financing market. The transaction was brokered by Jay Gardner and J. J. Zwado from the Income Property Organization and financing was provided by Bank of America.
Lexington Manor is located only four blocks from downtown Brighton, a quiet community surrounded by state and county parks, picturesque lakes, natural wetlands, yet within driving distance of the metropolitan areas of Ann Arbor, Lansing, and Detroit. The apartment homes offer spacious one or two bedrooms with full walk in closets, central air conditioning, balconies, private storage areas, and laundry facilities in each building. The community features mature landscaping with beautiful pine trees, a swimming pool with sundeck, playground and inviting picnic areas.
“We are excited by the transaction and feel Brighton is a desirable place to live and do business in Livingston County,” commented Matt Lester, Founder and Chief Executive Officer of Princeton Enterprises. “We were able to negotiate a very good price for Lexington Manor due to our ability to close the transaction in less than forty-five days.”
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 12,000 individual apartment units in Michigan, Ohio, Indiana, Georgia, North Carolina and South Carolina.