May 2022 – Loop Investments purchased the iconic The Sapphire Apartments, two nineteen-story towers consisting of 313 apartments in Southfield, Michigan in May 2022 for a purchase price of $21M with a loan amount of $31.7M.   After many years of deferred maintenance, Loop is restoring the buildings to their former status in phases over the next three years.  At present, renovations have commenced for luxury apartment homes, first floor lobby, office, and fitness center.  The heating boilers and domestic hot water boilers have been replaced, and elevator refurbishments are underway.  Controlled entry and surveillance cameras have been installed and landscaping beautification, swimming pool restoration, sun deck improvements, and a Wi-Fi Cafe round out the amenity renovations. The repositioning also includes a rebranding strategy to the original name of North Park Towers.