ANN ARBOR, MICH. — Marquette Cos. and a fund managed by DRA Advisors have sold The Haven at Ann Arbor, a 520-unit community in Ann Arbor. Abacus Capital Group, a New York-based real estate investment firm, purchased the asset for an undisclosed price. At the time of sale, the community was 95 percent occupied.
The Haven at Ann Arbor offers a mix of studio, one- and two-bedroom units ranging from 650 to 1,075 square feet. Community amenities include a clubhouse with resident lounge, three fitness centers, an outdoor pool with terrace, enclosed dog park, tennis courts, nature trails and an onsite car washing station.
Marquette originally purchased The Haven at Ann Arbor in 2017, when the asset was known as Village Green of Ann Arbor. The company undertook a $13 million revitalization project that included extensive exterior improvements and unit interior renovations. Marquette also renovated the amenities and improved site operations.