River Oaks was 96% leased at the time of the sale. It consists of one-, two-, and three-bedroom units that rent for between $680 and $1,300 a month. There are also garages, a clubroom and a fitness center on the property.
Edmond Joseph of the Columbus office of Los Angeles-based CB Richard Ellis represented Platinum in the transaction.
Financing of $15.2 million was arranged by New Mexico-based Spectrum Capital Group and obtained from Minneapolis-based US Bank. Terms of the mortgage were not disclosed.
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