Marcus & Millichap arranged the sale of River Towers Apartments, a 472-unit affordable housing multifamily community in Detroit, Mich.
The value of the transaction was approximately $29 million.
River Towers Apartments is located at 7800 E. Jefferson Ave. Originally constructed in 1971, the property will undergo extensive rehabilitation and refurbishment.
River Towers LLP, which had owned the property since the early 1970s, sold it to Southfield, Mich.-based River Towers LDHA LP.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
Send a comment or news tip to our newsroom.
Please include the headline of the story.
You have {{data.cm.viewsLeft}} articles left this month.
This content is available to Inman Select subscribers.
Please select an option below.
Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
You have used all of your free pageviews.
Please subscribe to access more content.
Access denied!