Princeton Enterprises Acquires Lansing Tower Apartments

BLOOMFIELD HILLS, Mich. - Oct. 27, 2014 - PRLog -- BLOOMFIELD HILLS, Mich., October 14, 2014 -- Princeton Enterprises[1], a privately held real estate investment company based in Bloomfield Hills, Mich. is pleased to announce the purchase of Lansing Tower Apartments located in Lansing, Mich.

Princeton closed on Lansing Tower Apartments, a 140 unit multifamily apartment community on October 8, 2014 with the assistance of Cary Belovicz from Commercial Property Advisors[2] who brokered the deal on behalf of a private seller.

Built in 1968, Lansing Tower Apartments offers studio, one, two, and three bedroom apartment homes in a metropolitan high rise setting. Significant renovation work is expected to include cosmetic upgrades to the exterior of the building, plumbing improvements, a new swimming pool deck and fitness center, a resident lounge and renovated lobby with a new wifi beverage café. In addition to the above, the building offers a covered parking garage, on-site laundry facilities, and additional storage rooms. Individual apartments feature unique and spacious layouts, oversized windows, spectacular views of downtown Lansing, multiple bathrooms, walk in closets, and select units include dressing rooms and breakfast nooks.

Lansing Tower has spectacular views of the Capitol Building and surrounding area and is within walking distance to Cooley Law School, Lansing Community College, restaurants, shopping and entertainment venues. Located in the heart of downtown Lansing, the property is just a short commute to MSU, the Capital Region International Airport, and numerous parks and nature reserves.

“There are few opportunities in this business to buy a building as well conceived and as well located as Lansing Tower,” commented Matt Lester, Founder and Chief Executive Officer of Princeton Enterprises, LLC. “We are very excited by the resurgent Lansing market and believe that Lansing Tower will once again become a housing destination of choice for people who live and work in the area.”

For additional information on this announcement or Princeton Enterprises, please contact Michele Dreer at (248) 683-2500 or m.dreer@prinmgmt.com.

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About Princeton Enterprises:

Princeton Enterprises, L.L.C. located in Bloomfield Hills, Mich., is a premier real estate acquisition, development, and property management company that enjoys one of the finest reputations for successfully acquiring, repositioning and operating a diverse portfolio of real estate assets. Founded in 1994 by Matthew B. Lester, the company has acquired over 100 properties with an aggregate value of $1 Billion and has grown to more than 525 employees, and nearly 20,000 individual apartment units in Alabama, Florida, Georgia, Indiana, Kentucky, Michigan, Missouri, North Carolina, Ohio, and South Carolina.

About Commercial Property Advisors:

Commercial Property Advisors is your nationally connected, local leader in providing commercial real estate services. We have a network of affiliates to create a unique firm that understands the challenges of our new real estate economy. Our affiliates have helped individual investors and institutions alike in managing their real estate goals and helping them build their wealth.

Links:

1.    www.princetonenterprises.com

2.    http://www.commercialpa.com/index.htm

Copyright ©2014 Princeton Enterprises unless otherwise noted.