Marcus & Millichap Negotiates Deal for East Lansing Apts.
Education Realty Trust (NYSE:EDR
) acquired the multifamily properties at 1151 and 1231 Michigan Ave. in East Lansing, MI, from Ernie Schaefer of the Campus Village Communities for $20.9 million or $116 per square foot.
They total 180,795 square feet. One building was built in 2003 and the other was built in 2007. The portfolio is better known as the Campus Villages Phases I and II.
Earl Elliott of Marcus & Millichap was the listing broker.
Please refer to CoStar COMPS #2582573 for more information on this transaction.