Champion Closes $12 million, 218-unit Apartment Acquisition

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Champion Real Estate Services closed its largest deal to date on May 18th, with the acquisition of over 200 units at Bridgestone Apartments in Hilliard, Ohio.

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We will continue to seek out affordable multi-family investments in the desirable locations of central Ohio throughout 2012.

On May 18, Champion Real Estate Services closed its largest deal to date: 218 apartments for $11.845 million. The apartments are located in Hilliard, Ohio, at Bridgestone Apartments and were purchased for $54,300 per unit.

“We are always looking for quality asset opportunities, such as Bridgestone, to expand our business,” investment sales director, Dan Hunter, said. “Bridgestone Apartments fits our management model perfectly.”

Bridgestone offers its residents affordable, luxury living, featuring spacious one- and two-bedroom garden-style apartments and garages for rent. Surrounded by green space, lakes and ponds, this community highlights a quality way of life.

“We like everything about this deal - from the favorable financing on a non-recourse loan to the beautiful layout of Bridgestone Apartments,” President and CEO, Brian Yeager, said. “We feel that our operational platform can increase the property’s profitability for the near and long-term future.”

Hilliard is one of the most vibrant and fastest growing areas in central Ohio. Bridgestone Apartments are within minutes of the recently renovated Hilliard Rome Road, which is home to an abundance of new and growing businesses. The community’s location offers residents a lifestyle of convenience with its proximity to the Mall at Tuttle Crossing and its endless list of shopping, dining, and entertainment options.

“The complex is in excellent condition and has a very high historical occupancy, and we plan to continue that trend,” Yeager said. “We will continue to seek out affordable multi-family investments in the desirable locations of central Ohio throughout 2012.”

Please visit http://www.championpm.biz for more information on Champion’s communities and services.

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Britany Byers
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