Multifamily Rental Complex Goes for $14M

GRAND RAPIDS, MI-The 360-unit apartment complex changes hands from Denver-based Aimco to Oak Brook, IL-based JVM Realty Corp. A CB Richard Ellis team of Sean Cunningham and Jack Hannum from the Phoenix office and Detroit broker Joseph Anthony represent the seller.

By Dan Heaton | August 15, 2004 at 07:29 PM

Sean Cunningham and Jack Hannum of CBRE's Phoenix office, along with Joseph Anthony of the company's Detroit branch, represented the seller, Aimco of Denver. The buyer, Oak Brook, IL-based JVM Realty Corp., did not have broker representation.

Located at 2625 Northvale Drive, NE, Northview Harbor is a 25-year-old multifamily community. north of Interstate 96 and is within a short drive of most major employers in the metro area. The community was 93% occupied at the time of sale.

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