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Friday, November 21, 2008 Multi-Family
Hendricks & Partners has brokered the sale of two Ohio apartment communities totaling 269 units for a combined sales prices of $14.225 million, or $52,881 per unit. Loveland, Ohio-based Matrix Capital Partners purchased the Beechwood Villas in Cincinnati and the MacArthur Park Apartments in Loveland from Knoxville, Tenn.-based Lawler-Wood Housing, LLC. Eric Taylor and Mark Rohr of Hendricks & Partners' Detroit, Mich., office represented the seller in both transactions, which closed with a capitalization rate of 7.33 percent. The Beechwood Villas sold for $10.1 million and contains 184 units. The complex is located at 4706 Beechwood Rd. The 85-unit MacArthur Park property is located at 660 Park Ave. and sold for $4.125 million. Matrix Capital Partners plans to invest more than $10,000 per unit to renovate the properties. Address: Beechwood Villas at 4706 Beechwood Rd., Cincinnati, Ohio - MacArthur Park Apartments at 660 Park Ave., Loveland, Ohio Size: 269 units Filed Under: Multi-Family E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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