ANN ARBOR, MI – Trilogy Actual Property Group, a Chicago-based actual property funding, property administration, and improvement agency, introduced the acquisition of two Ann Arbor house communities in a portfolio transaction totaling 840 models.
“These acquisitions bolster our technique of buying prime quality communities in markets with wholesome fundamentals,” stated Trilogy Chief Funding Officer Jesse Karasik. “Ann Arbor is a real information middle with one of the vital extremely educated populations within the nation. Along with being a prime ten quickest rising tech submarket, Ann Arbor constantly ranks as a ‘Finest Place to Dwell’ amongst Gen Z, Millennials and retirees alike.”
The primary neighborhood, The Villas at Principal Road, is positioned subsequent door to the College of Michigan soccer complicated and is comprised of 360 one-, two-, and three-bedroom models that have been nicely occupied upon acquisition. In-built two phases in 1997 and 2002, the Villas resident expertise is complemented by its amenity bundle that features an out of doors pool with sundeck, 24-hour health middle with a Peloton spin bike, clubhouse, canine park, bundle lockers and an out of doors kitchen with firepit.
Trilogy additionally acquired The Villas at Northstar, a 480-unit neighborhood positioned a mile from the College of Michigan North Campus. Accomplished in 1988 and partially renovated by prior house owners, the property consists of 31 two-story buildings with one- and two-bedroom house houses that common 955 sq. ft. The neighborhood is nicely occupied. Residents get pleasure from expansive neighborhood facilities that embody a social lounge, clubhouse with fire, playground, tennis courtroom, canine park, out of doors pool and a 24-hour health middle with a Peloton spin bike.
Each properties are centrally positioned inside just a few miles of downtown Ann Arbor, minutes from the College of Michigan, and supply close by entry to main freeways and public transportation, offering residents with handy entry to space employment facilities. Main employers positioned in the neighborhood’s surrounding space embody, College of Michigan, Trinity Well being, Normal Motors, Toyota and Domino’s Pizza, amongst others.
That is Trilogy’s fifth house neighborhood acquisition in Michigan.
Trilogy Actual Property Group has sponsored seven personal funding funds. Since 2002, the principals of Trilogy have accomplished over $4 billion in transaction quantity, together with $670 million of acquisition and financing exercise in 2020 on its present portfolio of 30 multifamily properties positioned in 12 states throughout the nation.