In a prepared statement, Colonial says the sale proceeds will be used to pay down debt and support new development projects. The property, at 8134 Colonial Village Dr., had a year-end 2002 occupancy of 82.4%, Colonial senior vice president Sandra Lee Robertson tells GlobeSt.com.
The monthly rent range for one-bedroom units is $715 to $800; two bedrooms, $885 to $990; and three bedrooms, $1,055 to $1,160.
Goldberg Cos. was founded 45 years ago with the construction of its first single-family home on Cleveland's east side, according to the company's Web site. Since then, the company has built 5,000 multifamily units, 500,000 sf of office and retail and 4,000 single-family residences in metro Cleveland.
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