The property was sold by Freddie Mac. The Southfield office of CBRichard Ellis was the advisor on the transaction. Lake in the Woods, which was built over a four-year period beginning in 1969, is on 176 acres that includes 5,000 feet of lake frontage on Ford Lake. Theapartments, which range from 555 sf to 1,360 sf, are in 39 three-story buildings. Rents on the property range from $540 for a studio apartment to $1,264 for three-bedroom units.
The CB Richard Ellis brokerage team involved in the sale was led by Joseph Anthony from the Southfield office, and Brian McAuliffe of the Bannockburn, IL office.
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