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Champion Acquires 156-Unit Apartment Complex in New Albany, Ohio(December 19, 2011)
Columbus, OH (PRWEB) December 19, 2011
Champion Real Estate has expanded its investment portfolio to include The Enclave at Albany Park. This 156-unit complex resides in the desirable New Albany School District and is located near the corner of Dublin Granville Rd. and Hamilton Rd. Purchased for $56,100 per unit, the cost of the apartment acquisition totaled $8.751 million.
According to Brian Yeager, president and CEO of Champion, this addition is a successful way to end 2011. Acquiring The Enclave at Albany Park is a huge step forward for our company. We are excited to expand our portfolio to the Westerville, New Albany area, Yeager said. As a company, it is our goal to grow our presence in central Ohio while continuing to build strong relationships with our current investors, property owners and residents. Moving forward, our business model will continue to focus on buying affordable apartments in desirable locations.
We put value on our acquisitions from the moment we close, Yeager added. Our management company is able to decrease variable expenses by 25-30 percent annually. Combine that with a 10-year fixed Freddie Mac loan and you have a winner every time.
The Enclave offers luxury living, featuring one- and two-bedroom garden-style apartments. It also offers corporate housing, with furnished units available for short-term leases. New Albany is one of the most vibrant, growing areas in central Ohio and is home to an abundance of new and growing businesses. The communitys location offers residents a lifestyle of convenience with its proximity to Easton Towne Centers endless list of shopping, dining and entertainment options.
Champion has steadily grown its management portfolio during 2011 and is currently responsible for 2,000 units in nine different locations throughout central Ohio, including Hilliard, Dublin, Lewis Center, Powell and Marysville. Champion will continue to look for additions to its multi-family portfolio throughout 2012.
We believe 2012 will be a robust year for multi-family investment, and we will continue to seek out opportunities that fit our business model, Yeager said.
For more information on Champion and its services, visit http://www.championpm.biz.
Read the full story at http://www.prweb.com/releases/champion/newalbanyacquisition/prweb9041859.htm.
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