Q2 2012 Detroit, Michigan Apartment Property Sales Analysis

CRE Resources

View our Detroit, Michigan Submarket Map

Q2 2012 Detroit, Michigan Apartment Property Sales Analysis


Apartment investment deals cooled off in the second quarter of 2012 after having warmed up at the end of 2011. The only sale was a June deal for the 300-unit Country Meadows in Ypsilanti. Erie Investments No. 11 LLC sold it to Coseo Properties for $5.92 million or $19,733 per unit. The rolling 12 month cap rate was 6.9% as of the end of the quarter. It was based on a total of eight deals.