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Dietz Organization Starts the Year Off Strong

BLOOMFIELD HILLS, MI-The brokerage firm moves almost $25 million worth of multifamily complexes in three months, including two deals each in Grand Rapids and Lansing. The 176-unit Hidden Valley Apartments sell for $10.9-million.

By Robert Carr | Updated on March 26, 2001

BLOOMFIELD HILLS, MI -The Dietz Organization recently brokered the $10.9-million sale of Hidden Valley Apartments, a 176-unit residential community in Grand Rapids, MI. RHP Properties Inc., a real-estate investment firm headquartered in Farmington Hills, MI, purchased the 30-acre complex from Dallas-based Carmel Realty Inc. The sale also included additional land for future development.

Hidden Valley Apartments is located in the northeastern part of Grand Rapids, off Beltline Avenue between Four and Five Mile roads. Built in the 1970s, the complex features a combination of one-bedroom garden-style apartments and two- and- three-bedroom town homes.

“The transaction was significant to both owners, as they both were able to relocate their portfolios,” Rick Brace of Dietz tells GlobeSt.com.

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