(Read more on the multifamily market.)
RICHMOND HEIGHTS, OH-Associated Estates Realty Corp. haspurchased one multifamily property in Norfolk, VA and is buyinganother in Duluth, GA, as part of the Midwest-based company's moveinto the Mid-Atlantic and Southeast regions. The company looks togain a 50-50 split of its ownership and management of properties inboth the Midwest and Mid-Atlantic/Southeast.
The company has acquired the 268-unit Bristol at Ghent property,a four-story, mid-rise that was built in 2006. The building hasamenities such as high ceilings, newer appliances, a parking garageand a clubhouse, and is about 80% occupied, says Michael Lawson,vice president of investor relations for the company. The rentsrange from $1,044 to $1,640 per month.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
