Princeton Enterprises Acquires Park Terrance Apartments

Bloomfield Hills, Mich., October 10, 2013 —Princeton Enterprises, a privately held real estate investment company based in Bloomfield Hills, Mich. is pleased to announce the purchase of Park Terrace Apartments in Toledo, Ohio.

Princeton purchased the 208 unit garden-style apartment community on September 17, 2013 from Tritex Park Terrace of Atlanta. Tony Plath, from the Toledo offices of Reichle Klein Group, handled the sale on behalf of the sellers.

Park Terrace Apartments provides its residents with superior accommodations that include a clubhouse, fitness center, swimming pool, tennis courts, playground, and laundry facilities. Individual apartment homes feature one or two bedrooms, unique floorplans with island kitchens, oversized closets, and private entries.

Located in south Toledo, Park Terrace is situated along the Tarta bus line and within minutes of Interstates I-80/90, I-475, I-23, numerous country clubs, local shopping, dining, and entertainment venues. Park Terrace is just a short drive to the Swan Creek Preserve Metropark, the Maumee River and the Audubine Islands Nature Preserve, the University of Toledo Medical Center and the University of Toledo Health Campus, the Glass Bowl Stadium, and Fallen Timbers Battlefield.

“We are pleased to add Park Terrace Apartments to our growing Toledo portfolio. The community is very well located and simply put … a pleasant place to live,” commented Matt Lester, Founder and Chief Executive Officer of Princeton Enterprises. “The Toledo apartment market has rebounded nicely through 2013 and all indicators suggest the market will continue to grow, strengthen, and improve throughout the year.”

For additional information on this announcement or Princeton Enterprises, please contact Michele Dreer at (248) 683-2500 or m.dreer@prinmgmt.com.

Princeton Enterprises, L.L.C., located in Bloomfield Hills, Mich., is a premier real estate acquisition, development, and property management company that enjoys one of the finest reputations for successfully acquiring, repositioning and operating a diverse portfolio of real estate assets. Founded in 1994 by Matthew B. Lester, the company has grown to more than 500 employees, overseeing nearly 10 properties and 18,000 individual apartment units in ten states, including Michigan, Ohio, Indiana, Kentucky, Alabama, Georgia, Florida, Missouri, North Carolina and South Carolina.

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