MARQUETTE, Mich. (WLUC) - Tourville Apartments in Marquette are in the process of being sold.
In a letter to renters, Owner-Operator Tom Tourville says he decided to retire and sell the business, with a likely sale coming in March 2020.
The new owner, selected by Tourville, is Monarch Investment Management, out of Colorado. Tourville says it's a family-owned business.
"I was careful to select someone as the next Tourville Apartments owner who shared our family business values and guiding principles," Tourville said in his letter.
Next year, 2020, will be the 33rd year for Tom Tourville as the owner-operator of the apartment business, and the 50th year for his family.
He says his decision to retire was difficult and closes out a chapter in his family's history.
"My decision to retire was not easy. It will close out my family's chapter of owning Tourville Apartments, which has been a huge part of our lives," Tourville said. "We have been very fortunate to have formed long lasting, personal relationships with our employees and with so very many of our residents."
No selling price was disclosed.
To learn more about Tourville Apartments, click here.