(Read more on the multifamily market.)
CINCINNATI-A 665-unit Federal HAP contract portfolio has soldfor $20 million, or about $30,075 per unit. The bulk of the33-building portfolio is located here with two buildings located inDayton, says Derek Kinnear, investment specialist in Marcus &Millichap's Columbus office.
The seller's identity was not disclosed expect that it is alocally based investor. Kinnear and William Klopfer Jr., also withMarcus & Millichap, represented the seller. The buyer'sidentity was not disclosed except that it is an investor from NewJersey. A cap rate was not disclosed.
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