Columbus, Ohio (PRWEB) February 07, 2013
On February 5, 2013, a Champion-sponsored affiliate purchased a 292-unit apartment complex in Canal Winchester, Ohio. The apartment community, named Ashbrook Run, was built in 2011 and is currently 95% occupied.
"Ashbrook Run has an abundance of features to like, from the perspective of both a resident and an investor,” Brian Yeager, president and CEO said. “For our residents, the community is a brand new product, in a great location, with spacious floor plans and a long list of amenities.”
“For our investors, we were able to get in at a great price point and obtained a non-recourse Freddie Mac loan for 10 years at an interest rate of 4 percent," Yeager added.
The community features one- and two-bedroom garden-style apartment homes, as well as two-bedroom townhomes, with many of the apartments including a patio or balcony. The community clubhouse offers residents a resort-style pool, movie theater, tanning salon, and a 24-hour fitness center.
Located just minutes away from Rt. 33 (at the corner of Winchester Pike and Brice Rd.), Ashbrook Run is within a one-day drive of 60% of the U.S. population. The community is less than two miles away from the Winchester Square Shopping Center, which features a multitude of shopping and dining options along Gender Rd. Residents are also conveniently located only five minutes away from I-270 and 15 minutes from downtown Columbus.
"The city of Canal Winchester is one of central Ohio’s fastest-growing communities, and we are delighted to have the opportunity to expand there,” Yeager said. “Our staff is eager to hit the ground running and is looking forward to making Ashbrook Run a wonderful place to live.”
In 2012, Champion was recognized by Columbus Business First as the third-fastest-growing privately-held business in central Ohio. The addition of Ashbrook Run has brought Champion’s management portfolio up to 11 apartment communities, including more than 2,800 units. With its first acquisition of 2013 under its belt, Yeager said Champion plans to focus its efforts on expanding throughout the rest of this year.
“Our business model is to buy affordable apartments in desirable locations, for great value. As a company, we want to give our residents the value they deserve in the locations they desire,” Yeager said. “The central Ohio apartment market is on fire right now, and there is a lot of opportunity out there. Our company is young, focused, and will be aggressively seeking more multi-family ventures in 2013.”
For more information on Champion, as well as its services and communities, visit http://championpm.biz.