"Institutional investors are coming out of the woodwork. Everyone is setting up some sort of vehicle to get access to this particular asset type," Americas Nuveen Real Estate's Shawn Lese said.

Manhattan recovery a 'good sign'; Demand for flex space also reemerges there, CBRE reported.

The firm is offering $12 per share.

Southfield West and Southfield East Apartments make up the two-property portfolio, which totals 143 units.