High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Chicago & Midwest  + Midwest  + Apartments  | 

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.”

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Schottenstein Real Estate

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action