Clawson’s GSH Group acquires local multi-family communities for $200 million
GSH Group, a Clawson-based multi-family real estate investment firm, announced the acquisition of two multi-family apartment communities – one in Canton Township and one in Farmington Hills – for a total of more than $200 million .
“These acquisitions represent the largest transaction, from a monetary point of view, that we have ever made,” said Gideon Pfeffer, Managing Partner of GSH Group. “Both communities are located in popular townships, Canton Township and Farmington Hills, respectively, and are within premier school systems near national retail, restaurants and interstate access.”
The communities will be known as Meadows at Canton and Meadows at Farmington Hills. Both units were purchased from the same seller.
The Meadows at Canton, which has 736 units, is the only apartment community of its age on the market to offer fully renovated units. Located in an area with high population growth and high rental demand, The Meadows will be an affordable option for tenants who want a modern unit close to top schools, shopping and retail, as well as a convenient location next door. from I-275.
The Meadows of Farmington Hills is a multi-family community set among 41 garden-style buildings spread over more than 40 acres. Built 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 quartz countertops and stainless steel appliances, as well as walk-in closets, a private patio/balcony, and washers and dryers in the unit.
Residents can enjoy amenities such as a resort-style pool and deck, 24-hour fitness center, yoga and meditation studio, tennis court, playgrounds, park pet friendly, covered parking, and a newly remodeled residents’ clubhouse and lounge.
“The seller has made significant improvements to the interiors of the units over the past four years – opening up floor plans and installing new cabinetry, quartz counter tops and light fixtures,” says Pfeffer. “We look forward to improving shared amenities such as gyms and yoga studios, resort-like pools and gathering spaces to elevate properties to their full potential and enhance their enjoyment for those who live there. “
GSH Group has purchased around 7,000 apartments in the country’s major real estate markets over the past four and a half years. Its current portfolio is approximately 6,000 units, including ten multi-family communities acquired in 2021. The company currently has approximately $1 billion in owned assets.
To learn more, visit gshrealestate.com.