After 108 years, new owners for Waters Building
The Waters Building was build by Dudley Waters and his family. Now, 108 years later, the family has sold the building to an Ann Arbor investment group who is expanding their real estate holdings in Grand Rapids.
According to excerpts from the story:
A landmark downtown office building was sold to an Ann Arbor investment group, ending more than a century of ownership by one family.
The Waters Building, 161 Ottawa Ave. NW, was sold to Three Oaks Group LLC, the same company that owns the nearby Trust Building, 40 Pearl St. NW, and Ledyard Building. Terms were not disclosed.
“Our family is very pleased to pass ownership of the Waters Building to Three Oaks Group, which is a well-established real estate investment company that already has deep roots in Grand Rapids,” Cassard, chairman of the Waters Corp., said in a statement. “While this was a difficult and emotional decision for us, it was the right decision at the right time for our shareholders.”
Read the complete story here.
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