November 1, 2018
News Press Release
RESSCO Closes on Newest Acquisition and Over 1,000 Units in 2018
RESSCO Acquires 300 Additional Apartment Units in Riverview, Michigan
Southfield, MI, October 30th, 2018 – RESSCO, a privately held real estate investment company, based in Southfield, Michigan. is pleased to announce the acquisition of Pennbrook Place Apartments located in Riverview, Michigan.
RESSCO closed on the 300-unit apartment community on October 17, 2018. Marcus & Millichap’s Southfield Office brokered the transaction. “The Seller felt very confident choosing RESSCO. RESSCO has a great reputation as a “closer” and proved it by closing the transaction in 45 days” commented Chris Futo, Vice President at Marcus & Millichap.
Pennbrook Place Apartments has a balanced unit mix of one- and two-bedroom units. RESSCO plans to revitalize and enhance this community, which already offers several amenities including in-unit washers and dryers, a playground and a swimming pool. The property is well located near several major retail outlets and employment centers.
“The location of the property and below-market rents fit our value-add strategy perfectly” commented Shawn Stafford, Founder and CEO of RESSCO.
Pennbrook Place has been renamed “Riverview Crossings”.
About RESSCO
Real Estate Service Solutions Company (RESSCO) is a full service commercial real estate company that specializes in multifamily real estate. RESSCO offers a wide range of services that includes property management, construction management, project development and private placement investments. Multifamily real estate has unique challenges and RESSCO’s specialized skill set allows it to deliver a level of expertise that is unsurpassed in the industry.
RESSCO works with private investors, institutional investors, lending institutions, REO managers, municipalities, officers of the court, and property owners.
RESSCO’s management team has more than 50 years of experience involving real estate transactions, equity investments and development/construction projects.
For more information, visit https://www.ressco.com
Contact information: Andrew Wagoner
RESSCO
Real Estate Service Solutions Company
(248) 440-1888
26711 Northwestern Hwy, Suite 175
Southfield, MI 48033
