Income Property Organization Completes Deal on Bailey Park Apartments
FOR IMMEDIATE RELEASE / PRURGENT
Income Property Organization (IPO) has completed the sale of Bailey Park Apartments in Battle Creek, Mich., a 267-unit community that was financed through Chemical Bank.
At the time of sale, Bailey Park was 92 percent occupied. The sale price was $11 million.
With its current occupancy, Bailey Park represents a 7 percent cap rate. The community has recently undergone nearly $4 million in capital improvements.
IPO brokered the sale of Bailey Park to a local buyer on behalf of a seller who was out of state.
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 http://www.incomepo.com or contact Greg Coulter at (248) 932-0300.