Loop acquires three properties totaling 449 units in Midland, Michigan for $24 million

Loop Investments is pleased to announce it has acquired an exceptional multifamily residential portfolio in Midland, Michigan. This portfolio consists of three individual apartment communities, with a total of 449 units, located within minutes from each other. The purchase price for Robin Oaks, Mulberry Lane, and Perrine Pointe was $24 million. The three assets average 95% occupancy.  There are many competitive advantages, one major advantage being proximity to major employers such as DOW Chemical, Mid-Michigan Health, and Northwood University. Loop plans on investing $1 million in unit rehab as well as some common area improvements.  There is an upside potential through an $800k planned capital improvement plan.

Rehab at Park at Riverwoods Complete

In early 2019, Loop Investments purchased Huron View Apartments in Ypsilanti, Michigan. The property had been neglected and many residents were months behind on rent. With Eastern University less than a mile away, the potential for a flourishing property was evident. Understandably...