Summit Square-Breckenridge Apartments on Observation Hill in Duluth was sold June 1.

The property, located at 1025-1125 Glen Place Drive, consists of 107 units across four buildings. According to Encompass Real Estate Investment Services, the building complex will be renamed "The Overlook" and rebranding and rehabilitation of the property will begin in the coming months.

Encompass Real Estate will manage the property through for its client and buyer PLB Glen Place, LLC.

“Positioned between the Downtown and the up-and-coming (Lincoln Park) Craft District, we’re very excited about the future of the area," said Ben Norton, vice president of Encompass Real Estate in a statement. "We can expect our client to invest in these properties going forward to reflect this uniqueness with updated units and common spaces.”