Rockford Homes Sells Columbus Multifamily Asset
- Mar 29, 2019
The Willows, a 72-unit multifamily community in Columbus’ Southwest submarket has recently changed hands. Jeffrey Berlin bought the asset from Rockford Homes, funding the acquisition via a $5.5 Freddie Mac loan, according to Yardi Matrix data. Pinnacle Financial Partners, which has been providing financing for several communities in the Columbus area, originated the financing for the next 20 years.
The 12-building property is located at 2365 Hardy Parkway in Grove City, Ohio, and encompasses two-bedroom units. Completed between 1976 and 1986, The Willows is a partial conversion, with 59 units held by individual owners and 72 units under Rockford ownership. The asset was fully occupied at the time of sale.
The apartments at The Willows range from 738 to 950 square feet and can be rented for a monthly average of $776. All units feature washer and dryers, high-speed Wi-Fi and private balconies or patios. The property includes a 110-space parking lot with covered parking available by request.
The community offers access to interstates 270 and 71 and is approximately 6 miles away from downtown Columbus.