CLAWSON, Mich., Feb. 8, 2022 /PRNewswire/ — The GSH Group, one of the nation’s fastest-growing multifamily real estate investment companies, recently purchased two multifamily apartment communities in the Greater Detroit area. Both from the same seller, the combined purchase price is in excess of $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.
The communities will be known as the Meadows at Canton and Meadows at Farmington Hills. "Both communities are located in highly desirable cities, Canton and Farmington Hills, respectively, and are in top-ranked school systems with proximity to national retail, restaurants, and interstate access," Pfeffer said.
"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. 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."
Meadows at Canton
The 736-unit Meadows at Canton is the only apartment community of its vintage 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.
Meadows at Farmington Hills
Farmington Hills, Michigan
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 ample 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.
About the GSH Group:
Founded in 2017, The GSH Group is an owner-operator sponsor focused on large multifamily residential communities nationwide. The company specializes in owning, managing, and improving value-add workforce housing in desirable locations and with strong potential.
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 ~1B assets under ownership.
In 2021, The GSH Group ranked No. 296 on the annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies.
Director of Investor Relations
SOURCE GSH Group LLC