The Chandler Crossings apartments in the Northern Tier now belong to the same company that's leading the East Village project.

San Diego-based Pierce Company Inc. announced Friday that it purchased four apartment complexes from Atlantis Development Group for $94.8 million.

The Crossings — which includes The Club, The Landings and the two villages — houses almost 3,000 residents, who are primarily MSU students.

The purchase agreement does not include the unused land surrounding the apartment complexes, Pierce Company officials said. The Pierce Company can't develop new housing in the area without the land.

Gordy Hunsaker, CEO of Atlantis Development Group, did not return phone calls and messages from The State News on Sunday.

The acquisition of three Chandler Crossings communities was finalized Jan. 12, and the company expects to acquire the fourth sometime in March. Allen & O'Hara Educational Services Inc. will serve as the properties' manager, while The Pierce Company will be in charge of the business end.

"Chandler Crossings are the premier property in the Michigan State marketplace, in terms of quality of the assets and quality of the amenities," said Fred Pierce, president and CEO of The Pierce Company, on Sunday.

He added that he has been looking to purchase the complexes since June.

"We just think these properties are a tremendous investment opportunity," Pierce said.

Although the purchase gives the company a foothold in two major sections of East Lansing, Theresa Nakata, The Pierce Company's vice president of marketing and communications, said the company's ownership of the complexes is unrelated to its multimillion-dollar redevelopment of the East Village.

The East Village project will revamp the land enclosed by East Grand River Avenue, Bogue Street, Hagadorn Road and the Red Cedar River, by adding a mix of more retail and residential properties to the area.

But The Pierce Company has not always been open about its business practices. During a July 25 East Lansing City Council meeting about the East Village project, The Pierce Company showed images of a similar, completed redevelopment project it worked on in San Diego, when in reality, the company hadn't finished it.

Some Chandler Crossings residents said they received no forewarning about the management change — just a letter informing them it happened.

When Leah Dahlgren and her roommate went to re-sign their lease at The Club, the apparel and textile design junior was surprised to find out she wouldn't get the special deals that Atlantis Development Group used to give to those who stayed with the community, she said.

"We didn't realize that with the new ownership, they were changing the prices or changing the deals to re-sign at The Club," Dahlgren said. "That was disappointing."

She added that if she'd been told, she would've looked for a different residence sooner, rather than waiting and re-signing her lease.

Other residents said they don't mind having new owners.

"I don't really have a problem with it — it doesn't seem to affect me that much," said telecommunication, information studies and media senior Stacy Ahern. "The letter was just that we have new ownership, it wasn't anything huge."