52 total units
Potential LIHTC execution opportunity through MSHDA
40-year common ownership in place
Historical occupancy near 100%
Additional 29-acre adjacent parcel available for future development
Rolling Meadows is a 52-unit, garden-style affordable apartment community located in Fowlerville, Michigan. Constructed originally in 1979, the property features a wood frame construction and pitched shingle roofing. Unit mix at Rolling Meadows is made up of 40 one-bedroom units, ranging in size from 588 to 700 square feet, and 12 two-bedroom units, each measuring 735 square feet. Average unit size for the property measures 648 square feet. A lush lawn, professionally maintained, decorates the exterior of the property. Residents of this property have always taken pride in their surroundings.
We are offering the properties free and clear. The loan that was in place on Elderly has fully amortized. The remaining loan balance on Family will be paid off by May 2019.
FEATURES & AMENITIES
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
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