The Orion Apartments
In January 2015, Andover acquired The Orion Apartments, a 200-unit community in Lake Orion Michigan on the verge of losing its tax credit status. Situated in a highly visible area on Jocelyn Road with A-rated schools, The Orion is now 100% occupied through its conversion to a conventional market-rate property as the rent restrictions were replaced with market rents. The acquisition was financed with a fixed-rate loan through Citibank and refinanced through Berkadia in September 2018, returning 133% of invested capital to its investors.
The Orion Apartments in Orion, Michigan
Property Type: Apartments Homes
The Orion offers residents unique one, two, and three-bedroom apartment homes for rent in Lake Orion MI, in addition to exclusive amenities such as a beautiful pool with sundeck, 24-hour fitness center, and recently remodeled Clubhouse. With such a great location in the Lake Orion, Michigan area, there is always something to do or see when you choose to live at The Orion Apartments.