Clawson, MI, February 23, 2021 – The GSH Group, a real estate investment firm, announces the addition of two multifamily properties to its growing portfolio; BLVD West, a 144-unit property in Lansing, MI, and The Landings on East Hill, a 148-unit property in Grand Blanc, MI. The ability to deliver essential workers access to safe, affordable, high-quality housing while providing investors with the opportunity to capitalize on well-priced properties is of particular significance amid the global pandemic.
Both properties are in neighborhoods with convenient access to local amenities. The properties also benefit from strong ecosystems supported by major regional employers, including the upcoming opening of the MSU McLaren Hospital, adjacent to the Blvd West property and top employers of Automation Alley in the affluent suburb of Grand Blanc close to The Landings on East Hill.
“Worth noting is the properties, built in 2004 and 2005, are newer communities relative to the older product available today. These properties stand out in comparison to ground-up workforce housing developments which are not economically viable. The addition of these two modern communities to GSH’s portfolio offers unique housing that aligns with our mission to provide clean, safe accommodations in wonderful neighborhoods,” commented Gideon Pfeffer, Managing Partner at GSH.
GSH successfully closed on these properties through a raise of over $14 million in investor equity toward a combined closing of $36.8 million. GSH recognizes the opportunity to substantially increase both properties’ value by elevating current rents to market rates and achieving a projected 95%+ occupancy stabilization after a redevelopment plan. The plan includes capitalizing on management efficiencies through the firm’s vertical integration programs.
The firm balances investment and purpose by curating a portfolio of quality, affordable multifamily communities in cities with economic potential, access to jobs, and high-quality schools. By purchasing existing properties and improving their interior and exterior, residents reap the benefits of updated housing at reasonable rental rates. In turn, investors have the opportunity to realize historically superior returns knowing they are providing high-quality housing for our country’s essential workforce.
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