Kalamazoo, Mich. — A capital improvement allowance will add several upgrades.
Kalamazoo, Mich. — Greenhill Partners of King of Prussia, Pa., has acquired Lake Forest Apartments and renamed the property Greenhill Apartments.
The property, which is adjacent to Western Michigan University and half a mile from Kalamazoo College, will be managed by Greenhill Property Management.
Greenhill Apartments of Kalamazoo contains 292 units, consisting of 33 two-story apartment/townhouse buildings positioned on 44 acres. Amenities include a clubhouse with 24-hour fitness center, showers and sauna facilities, a swimming pool, three lakes, and 137 separate enclosed free-standing garages. All the units have balconies and fireplaces. The complex is set within a heavily wooded area.
The financing includes a capital improvement allowance that will be used to upgrade the existing clubhouse, add more outdoor recreational amenities, change the existing bedroom mix and convert some of the garage buildings into additional apartments.
Greenhill Partners is a privately funded partnership that specializes in student housing ownership, management, and development.