Leste Group And SAR Apartment Capital Complete $23.6M Acquisition Of Four Multifamily Properties In Columbus, Ohio
All four properties are located in the northeast submarket of columbus, which has enjoyed healthy demand over the past decade. Middle class, workforce housing is driving demand in the submarket and represents nearly half of all units rented there year to date.
SAR Apartment Capital continues expanding its Florida portfolio with the acquisition of the 54-unit, rental community “The Cottages At Magnolia” in Tallahassee.
SAR Apartment Capital identified an opportunity to double the unit count to 108 apartments by converting the oversized 4 bedroom/ 4 bathroom apartments into smaller, yet sizeable models.
The purchase price was US$ 3,300,000 that comes out to $30,000 a house. We paid $30,000 a door for a 4 bedrooms/ 2 bathrooms/ 1200 sq. homes located on 43 acres of area.