CRESTVIEW, KY-Grandview Summit, a high-end apartment complex located in this Metro Cincinnati suburb, has sold for $14.7 million. Birmingham, MI-based Dietz Organization brokered the sale to Realty Ventures XVI, L.L.C., a pension fund headquartered in Boston from Valley View Ridge, Ltd., a Kentucky-based development company..

The complex consists of 192 units in phases 1 and 2. Construction of the two-and three-bedroom garden-style apartments began in 1997. Phase 3, which has 96 additional units, is currently under construction and was not part of the cash sale. Phase 4 also is planned. Grandview Summit is located 15 minutes south of Downtown Cincinnati.

Senior vice president of multifamily sales Mark G. Rohr, senior associate broker Rick L. Vidrio and associate broker Rick Brace of the Dietz Organization represented both the buyer and the seller in the transaction.

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