Syndicated Equities Sells 210-Unit Multifamily Property for $71.5 Million

Syndicated Equities is pleased to announce the sale of Stone Falls of Ada, a 210-unit luxury apartment community located at 330 Stone Falls Drive in Ada, Michigan.

Syndicated acquired the property alongside Highgate Capital Group, LLC (“Highgate”) in 2018 for $45.8 million. During the 4-year hold, Highgate executed its value-add strategy, resulting in strong cash-on-cash returns and a profitable sale that produced a 1.9x equity multiple and 20.5% IRR for investors.

Originally built in 2008, the property is situated on 22.4 acres and is comprised of 21, two-story residential walk-up buildings and a clubhouse. Under Syndicated and Highgate’s ownership, the property underwent a $1.5 million renovation that included upgrading interior units and clubhouse amenities. Village Green provided onsite property management.

Syndicated Equities provides accredited investors and family offices with institutional quality commercial real estate investments. Since 1986, the firm has developed an expertise in co-investment ownership, net lease brokerage services, global real estate opportunity funds, and more recently, qualified opportunity zones. To date, Syndicated Equities has made over 100 investments representing over $500 million of equity and $2 billion of total asset value.

For more information please visit www.syneq.com or call (312) 640-9020

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