FOR IMMEDIATE RELEASE
August 29th, 2022
For additional inquiries please contact:
Abiel Ballesteros
VP, SAR Apartment Capital
1-786-355-6646
abiel@abielballesteros.com
SAR Apartment Capital acquires 556 apartment units distributed in four residential properties in the area of Columbus, Ohio with plans for extensive renovation and improvements
The multi-property transaction was completed in association with Leste Group as equity partner.
Miami, Fl –
SAR Apartment Capital is announcing today the acquisition of four multifamily properties in Columbus, Ohio for US $23,578.782 dollars and a combined count of 556 units.
The four residential communities vary in size and features and will be updated and renovated under a strict business plan with heavy exterior renovations, new roofs, landscaping, exterior lighting, new fencing, and rebranding.
Common areas will see new flooring and the renovation of clubhouses and leasing offices, as well as the addition and/or renovation of pools and fitness centers.
The interior renovations will include new bathrooms, new flooring, new kitchen and appliances including new AC units.
SAR Apartment Capital will partner with Mayfair Fort Pierce, LLC to oversee the construction operations.
Breakdown of the properties below:
Winterwood Apartments
135 units
Purchase price US$ 5,427,803
Winterwood Gardens
99 units
Purchase price US$ 2,627,260
Tall Oaks Apartments
160 units
Purchase price US$ 7,776,955
East Worthington
162 units
Purchase price US$ 7,746,763
(Among other valuable features, East Worthington has an empty 1-acre lot of unused land suitable for storage development or further construction of multifamily units.)
Further information will be provided as it becomes available.
With this new acquisition, SAR Apartment Capital and its partners deliver again on its promise to source, acquire and manage real estate assets with high ROI potential for its investors.
Thanks
Abiel Ballesteros
VP, SAR Apartment Capital
- SAR Apartment Capital is a Miami-based real estate investment and asset management firm specializing in multifamily apartment syndication, with over US $180 million in assets under management.About Leste Group
- Founded in 2014, leste group is a global independent alternative investment manager guided By core values of respect, creativity, and teamwork. The firm offers investors a diverse range of Strategies across real estate, credit, venture, liquid markets, and other alternative asset classes. Leste group’s investment teams leverage institutional-grade processes, a nimble, entrepreneurial Approach, capital markets expertise, and exclusive networks to source unique opportunities and Drive consistent risk-adjusted returns. To learn more information on leste group, please visit leste.Com