The GSH Group, a multifamily real estate investment company based in Clawson, has announced the acquisition of two multifamily apartment communities — one in Canton Township and one in Farmington Hills — for a total of more than $200 million.
“These acquisitions represent the largest transaction, from a dollar perspective, we’ve ever done,” says Gideon Pfeffer, managing partner at the GSH Group. “Both communities are located in highly desirable cities, Canton Township and Farmington Hills, respectively, and are in top-ranked school systems with proximity to national retail, restaurants, and interstate access.”
The communities will be known as the Meadows at Canton and Meadows at Farmington Hills. Both units were purchased from the same seller.
The 736-unit Meadows at Canton is the only apartment community of its age in the market to feature fully renovated units. Located in an area with strong population growth and rental demand, The Meadows will be an affordable option for tenants who desire a modern unit near top schools, shopping, and retail, as well as a convenient location adjacent to I-275.
The Meadows of Farmington Hills is a multifamily community set among 41 garden-style buildings spread out over more than 40 acres. Constructed in 1975, the property has been well maintained throughout its history.
Each of the community’s 424 apartment units features a chef-inspired kitchen with quartz countertops and stainless-steel appliances, as well as walk-in closets, a private patio/balcony, and in-unit washer and dryers.
Residents can enjoy amenities such as a resort-style pool and sundeck, a 24-hour fitness center, a yoga and meditation studio, tennis court, playgrounds, pet park, covered parking, and a newly renovated clubhouse and resident lounge.
“The seller has made significant improvements to the interior of the units over the past four years — opening up floor plans and installing new cabinets, quartz countertops, and fixtures,” says Pfeffer. “We look forward to improving shared amenities such as gyms and yoga studios, resort-like pool areas, and gathering spaces to elevate the properties to their full potential and enhance its enjoyment for those who live there.”
The GSH Group has purchased approximately 7,000 apartment units in the country’s top housing markets over the past four and a half years. Its current portfolio is about 6,000 units, including ten multifamily communities it acquired in 2021. The firm currently has approximately $1 billion in assets under ownership.
To learn more, visit gshrealestate.com.