Berkadia Closes $40M Sale of Grand Rapids Apartments
Berkadia arranged the $40-million-plus sale of a two-property multifamily portfolio in Grand Rapids, MI, totaling almost 400 units.
The firm’s Detroit-based Jason Krug, Kevin Dillon, Rick Vidrio, Rick Brace, Corey Krug, Carly Dietz and Charley Henneghan completed the sale on behalf the New York-based seller. The buyer was an Indiana-based undisclosed entity.
Senior Managing Director Richard Levine of Berkadia’s Atlanta office secured the financing for the acquisition of the property.
“There was a tremendous amount of interest generated for the portfolio,” said Jason Krug. “Grand Rapids continues to be a destination for many regional and national investors, as we received offers from all over the country.”
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