Troy firm Hayman buys Southfield apartments

The Hayman Co., a Troy-based real estate firm, has bought apartment complexes in Ann Arbor and Southfield from a New York company for $14.375 million.

Hayman bought the Ponds at Georgetown, a 134-unit property in Ann Arbor, for $8.275 million, and it paid $6.1 million for the 106-unit Monticello Apartments in Southfield. The deals closed Jan. 31.

Hayman bought the complexes from Sentinel Real Estate Corp. It had acquired them as part of a $532 million merger with America First Apartment Advisors Inc., of Omaha, Neb., in June 2007.

Ed Simon, a spokesman for Sentinel, confirmed the closings but declined to comment on the sale. The privately-held company has a portfolio of about $5 billion and has properties in 29 states.

Hayman manages apartments in Michigan, Texas and Nevada. In December, it also acquired a business park in Irving, Texas, and an apartment complex in San Antonio.

Jonathan Dwoskin of Marcus & Millichap in Southfield represented the buyer and seller in the deals.

Contact Greg Migliore at (734) 302-1721.

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