Echelon Property Management is excited to announce that we currently have a contract to purchase 25 units in Greenville, MI!  The complex is stabilized and both the interior and exteriors are in outstanding condition.  Greenville Commercial Bank will be providing financing, and the project is scheduled to close June 2010.

This is really an outstanding project, with very low occupancy and great retention of tenants.  It sits in a quiet, relatively secluded lot, but still very close to the center of town.  The original builder thought of everything, making great use of all available space and putting a great deal of care and detail in their construction.  Also, the current owner has made approximately $750,000 in improvements over the last five years.

Appraisal and Phase 1 are in process, and should be completed soon!  As more information develops we’ll pass it on, in the meantime look for us to pose some photos of the project!

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