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Value-Add Firm Buys 382-Unit Apartment Complex

YPSILANTI, MI-McKinley purchases the 382-unit Appletree Apartments and changes its names to Golfside Lake Villas. The company plans to undertake a multimillion-dollar renovation to the distressed property.

By Natalie Keith | Updated on April 20, 2006

(To read more on the multifamily market, click here.)

YPSILANTI, MI-Turnaround specialists McKinley has purchased the 382-unit Golfside Lake Villas and is planning a multimillion-dollar renovation of the property. The apartment complex is located at 2911 Bynan Dr. next to two other properties owned by Ann Arbor-based McKinley, Golfside Lake Apartments and Chippewa Tennis Club.

McKinley’s Jennifer Paillon tells GlobeSt.com that the complex used to be called Appletree Apartments, but McKinley changed the name to Golfside Lake Villas after it was purchased.

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