Multifamily V Michigan

Colliers sells apartment complex in Grand Rapids historic district

Colliers sells apartment complex in Grand Rapids historic district,ph01

Colliers International|West Michigan closed the sale of Waters House Apartments at 500 Fulton St. E in Grand Rapids, Michigan. The property sold for $10.25 million and consists of 107 apartment units and 125 parking spaces.

The Waters House Apartments have been owned by the same family since it was built in 1961. The property is located in Grand Rapids’ first historic district, Heritage Hill.

Matt Jones, associate vice president of multifamily investments at Colliers International|West Michigan, met with the family that owns the property to develop a marketing strategy. Jones was able to generate 18 competing offers from national and international buyers. Jones represented both the buyer and seller in this transaction.