Fully Occupied Community Trades in OH
- Nov 29, 2018
An individual investor has acquired Franklin’s Crossing, a 61-unit townhouse-style community in Northwest Columbus. According to Yardi Matrix data, the sale of the fully occupied asset was subject to a $2.4 million loan held by LCNB National Bank. Woda Cooper Cos. previously owned the property.
Located at 4711 Jeannette Road, Franklin’s Crossing is within 12 miles of downtown Columbus. The community is close to Interstate 270. There are several shopping and entertainment centers within a 3-mile radius, including Hillard Square and the Mill Run complex. Westpointe Plaza is 4 miles south of the asset.
Completed in 1973, the property has a little more than 3 acres and spreads across 3 buildings. The 61 units range from 800 to 1,008 square feet and have washer/dryer hookups. Common-area amenities include laundry facilities and 80 parking spaces.
Franklin’s Crossing is situated close to The Edge at Arlington, a 229-unit community that was recently purchased by Coastal Ridge Real Estate, in a transaction subject to a $10 million Freddie Mac loan.
Image courtesy of Yardi Matrix