Press release
Income Property Organization Announces 5 Multifamily Property Sales Totaling More than $36M
Income Property Organization (IPO) completed sales of four Michigan apartment communities and one student living community in North Carolina, for a combined total of more than $36 million. This is in addition to over a dozen apartment deals that the firm brokered this quarter.The noteworthy deals include:
- Bloomfield Square Apartments, a 259-unit community built in 1970 and located at 3161 Bloomfield Lane in Auburn Hills, Mich. IPO closed on the property on July 14, 2016, at a 6.68% cap rate for $17 million, or $65,637 per unit, to a foreign investor. IPO team members J.J. Zwada and Greg Coulter represented the seller; J.J. Zwada and A.J. Beachum, JD, represented the purchaser.
- Campus Habitat Apartments, a student housing project consisting of 82 units and 224 beds and located next to Campbell University in Lillington, N. C., sold on July 27, 2016 at an 8.68% cap rate with a sales price of $7.7 million, or $93,902 per unit. Campus Habitat was the seller and a New York investment group acquired the asset. J.J. Zwada represented the seller and Greg Coulter represented the buyer.
- Newberry Apartments, a 110-unit ranch-style community at 106 Falls Court in Delta Township, Mich. sold at a 7.40% cap rate for $4.73 million, or $43,000 per unit. IPO closed on this off-market transaction on August 26, 2016, within 60 days of listing. The seller was an investment company out of Atlanta, Georgia and the purchaser was a local investor. A.J. Beachum, JD and J.J. Zwada of IPO represented the seller and A.J. Beachum, JD, represented the purchaser.
- A 136 townhouse-unit complex, Marina Bay Club Apartments, located at 14221 Park St in Gibraltar, Mich, was sold at an 8.50% cap rate for$4.55 million on July 29, 2016. The seller was a Trust Fund and the purchaser was a foreign investor. Greg Coulter of IPO represented the seller and Jason Gardner represented the purchaser.
- Marwood Apartments at 53 Marston St. in Detroit, a 53-unit redevelopment deal at the end of the M-1 Rail in the New Center Area, sold on Sept. 1, 2016 at a 6.50% cap rate for $2.05 million, or $38,679 per unit. The seller was an investment partnership out of Southfield, Mich. A.J. Beachum, JD and Greg Coulter of IPO represented the seller and Greg Coulter represented the purchaser.
Income Property Organization in Bloomfield Hills, Mich. offers customized brokerage services that are designed to meet the specific needs of a wide range of clients -- private owners as well as institutional investors -- who want to buy or sell income property. To learn more or inquire about multifamily investment opportunities, visit www.incomepo.com or contact Greg Coulter at (248) 932-0300.
PO Box 871346
Canton, MI
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Income Property Organization Announces 5 Multifamily Property Sales Totaling More than $36M here
News-ID: 362980 • Views: …
More Releases from Income Property Organization
Income Property Organization closes on two Southfield complexes
Income Property Organization has closed on a portfolio sale of two high-rise assets located in Southfield, Mich., The Franklin and 12 North Apartments, with a total of 374 units.
An international purchaser from Israel acquired the assets, using acquisition financing through Fannie Mae.
With the portfolio operating exceptionally well, the purchaser plans to continue with current operations.
Given the sales price of $30,600,000 (or $81,818 per unit), the capitalization rate was 6.5 percent.
Both…
Income Property Organization marks a ‘recording setting’ year
Bloomfield Hills, MI - Jan. 18, 2018 - Income Property Organization (IPO) reported another recording breaking year in 2017. The company brokered the sale of 70 multi-family communities in Michigan and Ohio, representing $150 million in sales volume.
"We were able to deliver some tremendous results for our sellers," said Greg Coulter, managing member. "Many of our transactions were acquired by international and out-of-state investors, demonstrating the depth of…
Income Property Organization and its Execs Honored with CoStar 'Power Broker' St …
Two executives with Income Property Organization, a provider of customized multifamily brokerage services, have been honored with "Power Broker" status by CoStar Group, Inc., a leading provider of commercial real estate information, analytics and online marketplaces. In addition, Income Property Organization as a firm was recognized with the Power Broker designation by CoStar Group.
Gregory D. Coulter, founder and Managing Member of Income Property Organization, and A.J. Beachum, J.D., Associate Broker…
Income Property Organization Lists 67-Unit Southfield Apartment Complex for Sale
Income Property Organization (IPO) is the listing brokerage for a 67-unit apartment complex in Southfield, Mich., the bidding for which is now open until March 15, 2017. The property, known as Wakefield Apartment Homes, is located in Michigan’s wealthiest county and the second most populated county in the state of Michigan.
Current occupancy for Wakefield is 92.5 percent. The newly renovated complex is located on 1.62 acres of property and there…
More Releases for IPO
Blanco Minerals Valuation Rises as IPO Nears
Tuesday, April 19, 2022; Vancouver, BC: Blanco Minerals Inc. are pleased to release a positive update on the company's valuation following an audit that has now been completed.
Blanco Minerals Inc. confirms that the latest audit commenced in February 2022 and was handled by PricewaterhouseCoopers. As a result of the audit, we are happy to announce to our private equity partners and individual shareholders that the common shares of Blanco Minerals…
Why should you apply in an IPO? Different ways to apply IPO online in India – …
POs raised a whopping Rs 25000 crores in the year 2020 and gave investors a massive return opportunity.
To get listed on the stock exchange the company has to release its IPO. It helps them raise funds from the public by issuing the initial public offerings (IPO) in their company's name. India is one of the ever-growing marketplaces for companies to launch their IPOs.
The above statement is…
AIRBNB files for its long awaited IPO
Even as the pandemic that wrecked its business flares up again, Airbnb is poised to make its public market debut this year.
The company filed its long-awaited IPO paperwork Monday November 16, revealing that it turned a profit of $219 million in the third quarter of this year, on $1.34 billion in revenue.
Airbnb plans to list on the Nasdaq under the stock ticker "ABNB."
In September 2019, Airbnb announced that it planned…
Wellving Asset Management Identify IPO
Not a company to rest on their laurels Wellving Asset Management have identified what could be the next investment vehicle for their clients.
It comes in the form of an IPO. IPO stands for initial Public Offering. In other words, it is a new issue of stock offered for sale to the public. When companies first start out, the shares are held privately. At some point, a majority of the owners…
Uber IPO: What Can We Expect?
Within the next few months, the Uber IPO is expected to hit the markets. Keep in mind that the company has confidentially filed its S-1 with the Securities and Exchange Commission (the document is usually not made public until a couple weeks before the offering).
While we’ve seen many tech unicorns come public during the past couple years, the Uber deal will be in another league. Note that the capital raise…
Vulturis Data Launches Venture Capital IPO Yield Index
Vulturis Financial Data Services launched a venture-capital initial public offering yield index. Based on historical data pertaining to returns of IPOs, the index weighs the average returns and exhibits the feasibility and viability of offering public stock for a startup.
The VC IPO Yield Index shows the return of VC IPOs relative to the number of filings on a monthly basis. The ratio utilizes the adjusted liquidity, or proceeds, of initial…
