Greystone Real Estate Advisors Close $12.5 Million Sale of 298-Unit Michigan Seniors Housing Community
December 5, 2016
Greystone Real Estate Advisors announced it closed the $12,500,000 sale of the Park at Trowbridge in Southfield, MI. A private equity group purchased the seniors housing property from a publicly-traded REIT on December 1. Mike Garbers and Cody Tremper of Greystone represented the seller in the transaction.
Formerly operated by Brookdale Senior Living, the Park at Trowbridge is a 298-unit independent living community situated on seven acres of land. Built in 1998, the community is 280,000 square feet and offers a variety of amenities including landscaped grounds, a greenhouse, a gazebo, library, restaurant-style dining, and a beauty/barber shop.
The Greystone Real Estate Advisors team leverages its extensive experience to provide expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.