Find out the latest news at Echelon's Blog
- Washington West Realty LLC Purchases 25 Unit Apartment Complex in Greenville
McCloud Properties LLC formed a Private Placement to purchase a 25 unit apartment complex in Greenville, Michigan. Echelon Property Management has taken over management of the apartment community. Washington West Apartments is a 25 unit, stabilized apartment complex in excellent condition. Commercial bank Greenville provided conventional financing for the site at 75% loan to value [...]
- Greenville Portfolio Addition!
Echelon Property Management is excited to announce that we currently have a contract to purchase 25 units in Greenville, MI! The complex is stabilized and both the interior and exteriors are in outstanding condition. Greenville Commercial Bank will be providing financing, and the project is scheduled to close June 2010. This is really an outstanding [...]
- CAP Rate Predictions and Consession Syndrome
Cap Rates for the 54 largest market for apartments are predicted to rise from 7.5% today to 8.05% in 3Q of 2011, according to the March issues of SOURCE – PPR, a CoStar Company. I find it interesting to see this number and wonder if this is for stable non-distressed assets only. In West Michigan [...]
- Expenses in 2010 – What to Expect
There is a great article over at MultifamilyExecutive.com regarding expected expenses for the year 2010. If you get a chance, go and take a look at it. On a more local level, Echelon Property Management has seen that in Michigan, utility costs seem to be rising especially with local municipalities water and sewer charges. The [...]
- Positive News in Units Magazine!
A couple of interesting points were made on page 10 of the February 2010 issue of Units Magazine relating to private investment in apartment acquisitions. For one, the article noted that private investors accounted for 82 percent of the dollar value of apartment acquisitions during the first three quarters of 2009, indicating potentially the clearest [...]