Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Leste Group, SAR Partner on Columbus Multifamily Portfolio
Leste Group’s real estate debt and structured equity arm and investment firm SAR Apartment Capital have completed the $23.6-million acquisition of four multifamily properties in Columbus, OH totaling 556 apartments. All four properties are located in the Northeast submarket of Columbus, which has seen healthy demand over the past decade.
The properties in the portfolio include the 135-unit Winterwood Apartments, the 99-unit Winterwood Gardens, the 160-unit Tall Oaks Apartments and the 162-unit East Worthington. They will undergo renovations of both exterior and interior spaces.
“Columbus is facing a demand for quality workforce apartment housing, and we see significant upside potential supported by the area’s demographic trends,” said Jordan Suppan, managing director of Leste Credit. “This portfolio represents a unique opportunity to add value through targeted capital improvements, and we believe these communities have the potential to become market-leading multifamily locations in the Columbus area.”
- ◦Sale/Acquisition
