Deals + Doings

August 2, 2022

Brianna Johnston and Anthony Pellegrino Ink Deal on 35-Unit Detroit Apartment Building for $1.25M

P.A. Commercial is pleased to announce the sale of Ambassador Courts Apartments, a 35-Unit, Mid-rise Apartment Building located at 13505 LaSalle Blvd in the Dexter-Linwood neighborhood of Detroit. P.A. Commercial’s Associate, Brianna Johnston and Senior Associate, Anthony Pellegrino facilitated the sale of the 29,900 SF, four-story building, which sold to a private investor for $1.25M.

Johnston and Pellegrino represented the seller in this transaction. This multi-family sale was well-positioned for the new owner to enjoy the upside of new managerial systems and modest turnovers. That process, coupled with existing cash flow made this project viable for the new owner.

The Dexter-Linwood & Hamilton-Davison neighborhoods of Detroit are proving to be a focus for both the city and private sector. Recent additions to the area include the brand-new Millwright Training Facility, 444,000 SF-Means Logistic Park, and LGC Global Corporation HQ. Retail surrounds the area and highway access positions this area for “up and coming status.”