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Schottenstein Trades Three Projects for $177M
Schottenstein Real Estate Group has sold three of its developments for a combined $177 million. The Columbus, OH-based company sold Powell Grand Communities in Powell, OH, and Northlake Summit in Sunbury, OH to Cortland.
Additionally, Central Gardens Grand in Palm Beach Gardens, FL sold to L&L Investors.
Corey Schottenstein, managing partner for Schottenstein Real Estate, said, “Our developments were located in perfect locations for these times in high-end suburban areas, and the type of product we develop is probably one of the best real estate investments in the current economic climate.”
Added company president Brian Schottenstein, “Our company has been fortunate to achieve a great year despite the unfortunate COVID pandemic, thanks to all of our employees involved and the nature of our developments. We currently have more than 1,200 new units in construction, and as our industry continues to boom, more are planned.”
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- ◦Sale/Acquisition


