(Read more on the multifamily market.)
DETROIT-The Habitat Co. says it is putting the 584-unitLafayette Towers apartment complex up for sale. The two 22-storybuildings, built in 1963, are being offered for $20.3 million.
Eric Taylor, senior investment advisor with Hendricks &Partners, says the company has owned the property since it wasbuilt. "They feel the partnership that's owned the buildings hasmatured, it's been in place for 45 years. There's certain trustsinvolved, and in terms of capital raises and ongoing improvements,it just makes more sense to dispose of the property," he said.Taylor and Mark Rohr are marketing the complex.
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