News & Press

Andover Real Estate Partners

Get In Touch!


  800-561-1479

Real Estate Investment Properties in Florida, Michigan, Ohio & Indiana

Get In Touch
Real Estate Investment Properties in  Florida and Michigan

Multi Family Real Estate Investing

Andover Partners Asset Management Totaling 2500 Units Valued at $250,000,000
Andover Real Estate Partners

Andover Real Estate Partners


Andover Real Estate Partners is a privately held real estate investment firm with offices in Boca Raton, Florida and Birmingham, Michigan. Andover Real Estate Partners has been responsible for asset management of its communities totaling 2500 units valued at $250,000,000. At the heart of Andover’s methodology is a long term value oriented philosophy that uses creative and efficient strategies to optimize investor returns for its investments. About Andover

Andover Real Estate Partners is a privately held real estate investment firm with offices in Boca Raton, Florida and Birmingham, Michigan. Andover Real Estate Partners has been responsible for asset management of its communities totaling 2000 units valued at $250,000,000. At the heart of Andover’s methodology is a long term value oriented philosophy that uses creative and efficient strategies to optimize investor returns for its investments.
View News & Press

Andover Real Estate Partners Closes On Another Value Add Deal In Canton, Michigan

Andover acquired Canton Club East Apartments in August 2016, an extremely well built and maintained community located in Canton, Michigan. This was their third acquisition in this submarket in the past 24 months. Canton Club East has a strong operational and financial history with a 95% plus average occupancy for the past 10 years and an NOI increase of 8.4% annually since 2010. Additional upside exists from conversion of LIHTC units to market-rate with unit upgrades and commensurate rent increases. Other operational improvements being implemented include the billing back of utilities to residents as well as significant reduction in payroll. The property is projected to produce investor cash flow of 12.9% in year one and average annual investor cash flow of 13% and a projected investor IRR of 19.3% over a 10 year hold period.

Property Details

Andover Acquires Largest Deal to Date - Notre Dame Student Portfolio

Andover Real Estate Partners Acquires Largest Deal to Date Overlook at Notre Dame

In November 2016 Largest Deal To Date Andover/M Group partnered with Coastal Ridge Real Estate in acquiring two brand new exceptionally well-located, high-end student apartment communities adjacent to the campus of Notre Dame University in South Bend, Indiana. This was a $62,000,000 off-market transaction. Built in 2013 thru 2016 Irish Flats (98 units / 188 beds) and Overlook at Notre Dame (357 units / 365 beds) are communities considered to be best-of-class design with a complete package of amenities.

The partners saw an opportunity in the submarket with a lack of supply of on campus housing. These two communities are two of only four purpose built properties for student housing that were built on or immediately adjacent to the university in the last ten years. The properties were 100% leased with waiting lists at the time of acquisition for the 2016/2017 school year. The investment structure for the combined acquisition will provide average annual investor cash flow of 11.5% and projected IRR of 18.9% over a 10 year hold period.

Property Details

The Health Dare Reviews

  • ReviewsReviewsReviewsReviewsReviews
    Andover recognizes that “people make the world go ‘round” which is why its focus on being closely connected to its investors, lenders, and third party partners is so critical. Its really about “who we be” more often that “what we do”. Our integrity, authenticity, and honesty is what drives Andover to be a reliable, trusted partner in all its dealings.

    Rob S. - Andover Real Estate Reviews
  • ReviewsReviewsReviewsReviewsReviews
    Andover delivers long-term, superior risk-adjusted returns utilizing the following strategies. Andover’s aggressive approach to property and asset management generate higher returns by adding value through 1) improving units that can net higher rents 2) increasing “other income” while at the same time providing value and additional services for its residents.

    Rob S. - Andover Real Estate Reviews
  •   Press & News
  •   Social News Feed
andover-partners-real-estate-investment-firm

Our Mission Statement

Andover Real Estate PartnersAndover Real Estate Partners recognizes that “people make the world go ‘round” which is why its focus on being closely connected to its investors, lenders, and third party partners is so critical. Its really about “who we are” more often that “what we do”. Our integrity, authenticity, and honesty is what drives Andover to be a reliable trusted partner in all its dealings.