WillowTree Apartments, a 312-unit, 572-bed property, and WillowTree Towers, a 163 unit, 283-bed property, will be purchased using proceeds from the GMH's initial public offering, which was closed in November, and with assumed debt. Located at 1819 Willowtree Lane in Ann Arbor, in a wooded setting across from the University of Michigan's North Campus, the WillowTree Apartments and Towers contain two parcels of land; one being a three-story garden style apartment community and the other, a five-story apartment tower. The complex is currently more than 95% occupied.
Last fall, GMH purchased its first two properties in Michigan, buying student housing complexes near Michigan State University in East Lansing and another near Western Michigan University in Kalamazoo.
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