Club Meridian
Club Meridian is a 406-unit apartment community built in 1989 and located in Okemos, Michigan, an affluent and growing suburb of Lansing.
Property Key Features
Market:
Okemos, MI
Number of Units
406
Date Acquired:
Club Meridian is a 406-unit apartment community built in 1989 and located in Okemos, Michigan, an affluent and growing suburb of Lansing.
The property’s high finish level and high level of maintenance has allowed it to compete with much newer properties, and part of Gray Capital’s strategy with the property involves a medium-level value-add renovation that has been proven to drive stronger rent growth for the property when fully implemented.
Club Meridian
Club Meridian is a 406-unit apartment community built in 1989 and located in Okemos, Michigan, an affluent and growing suburb of Lansing.
Carmel Woods
Full-Cycle Project
Net IRR: 33%
Equity Multiple: 2.54x
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