DETROIT, Jan. 25, 2021 /PRNewswire/ — Trilogy Real Estate Group, a Chicago-based real estate investment, property management, and development firm, announced today the acquisition of two Ann Arbor apartment communities in a portfolio transaction totaling 840 units.
“These acquisitions bolster our strategy of acquiring high quality communities in markets with healthy fundamentals,” said Trilogy Chief Investment Officer Jesse Karasik. “Ann Arbor is a true knowledge center with one of the most highly educated populations in the country. In addition to being a top ten fastest growing tech submarket, Ann Arbor consistently ranks as a ‘Best Place to Live’ among Gen Z, Millennials and retirees alike.”
The first community, The Villas at Main Street, is located next door to the University of Michigan soccer complex and is comprised of 360 one-, two-, and three-bedroom units that were well occupied upon acquisition. Built in two phases in 1997 and 2002, the Villas resident experience is complemented by its amenity package that includes an outdoor pool with sundeck, 24-hour fitness center with a Peloton spin bike, clubhouse, dog park, package lockers and an outdoor kitchen with firepit.
Trilogy also acquired The Villas at Northstar, a 480-unit community