Consumers president and CEO Donald J. Hommel couldn't be reached by GlobeSt.com's publication deadline to learn the name of the seller and the property, the contract price, occupancy, age of the complex and average asking rents. The company is buying the property through its Spartan Properties LLC subsidiary.
But in a prepared statement, Jack Erenhaus, chairman and chief operating officer of Consumers, says the timing is right to make the purchase.
"There seems to be a fair amount of opportunity available in this marketplace," Erenhaus says in the statement. "We have identified a number of properties that can be purchased at prices that allow for attractive current returns on investment, putting the company in a position to realize significant potential upside returns when the market strengthens."
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
