California Investor Buys Big in Miami Valley
- Aug 04, 2015
One of the largest apartment communities in the Dayton area is now under new ownership.
One of the largest apartment communities in the Dayton area has changed hands for the first time in nearly a decade after commanding $15.7 million from a California-based buyer. The Dayton Business Journal reports that NL Core Avalon Place LLC. purchased Avalon Place Apartments and Townhomes from Maple View Apartments LLC. The 592-unit community is the third largest in the Miami Valley. Dave Lockard of CBRE’s Cincinnati office was the selling agent for Avalon Place, which Maple View Apartments L.L.C. acquired in 2006 for $11.7 million, according to PropertyShark. Avalon Place is located at 118 Old Yellow Springs Rd. in Fairborn, close to Wright State University and Wright-Patterson Air Force Base. The community offers a mix of one-, two- and three-bedroom apartments, as well as two- and three-bedroom townhomes. Amenities include outdoor pool, laundry facilities, on-site management and more. Oberer Co. will continue to serve as property manager. Photo credit: www.liveatavalonplace.com