DETROIT – October 28, 2020 – Berkadia today announced the sale of West Michigan 4 Portfolio, a 427-total-unit portfolio of four properties in Kalamazoo, Michigan. Jason Krug, Corey Krug, Kevin Dillion, Rick Vidrio, Rick Brace and Charley Henneghan of Berkadia’s Great Lakes Team completed the sale on behalf of the Michigan-based seller, and the buyer, Chicago-based Tricap Residential Group. The deal closed on September 24.
“We were very happy to bring another new investor into Western Michigan,” said Jason Krug. “The Western Michigan market continues to be an attractive source for investors focused on quality, established multifamily real estate with yield and upside.”
The properties in this portfolio include:
- Embassy Terrace, located at 3420 West Main St., features one- and two-bedroom floor plans with private patios and balconies. The 85-unit community includes amenities such as laundry facilities and a swimming pool. Residents are afforded convenient access to the shops and restaurants along West Main Street.
- Greenbriar is a 61-unit property located at 821 West Lovell St., near the Kalamazoo Institute of Arts and Bronson Park. The community includes two-, three- and four-bedroom open floor plans with shared laundry facilities.
- Carriage Green, a 137-unit property located at 4525 West Main St., features one- and two-bedroom floor plans with dishwashers and air conditioning. Residents are located near Frays Park and Western Michigan University.
- Regency Square is located at 611 Whites Road and features 144-units of one- and two-bedroom floor plans with walk-in closets and large bedrooms. Community amenities include a fitness center, a swimming pool and walking and biking trails. Residents are close in proximity to Kalamazoo Valley Museum and Kalamazoo Valley Community College.