Friedman’s Rich Deptula Sells 468 Bed Student Housing Community Through Receivership

Posted on June 1, 2021

Farmington Hills, MI – (June 1, 2021) Friedman Real Estate, one of the nation’s leading providers of commercial real estate services, recently sold University Parke Suites in Big Rapids, Michigan, a student-housing apartment community comprised of 9 multi-family buildings containing 117 units with a total of 468 student beds. The 2008 built community is located less than a mile from Ferris State University in northwest Michigan. Friedman, who currently manages over 15,000 apartment homes throughout the US, acted as receiver and property manager to prepare the asset for sale to maximize value for our institutional client. Friedman’s Rich Deptula advised both parties in the transaction.

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