- The acquired portfolio includes Winterwood Gardens, a 3-acre, 99-unit building and Tall Oaks Apartments, a 7.8-acre, 160-unit community
- SAR Apartment Capital LLC is a multifamily investment firm based in Miami, Florida
- Founded in 2014, Leste Group is a global independent alternative investment manager
Leste Group and SAR Apartment Capital have acquired four multifamily properties in Columbus, Ohio, for $23.6 million.
The properties comprise 556 apartments in total
The properties in the portfolio include:
Winterwood Apartments, a 4-acre, 135-unit complex located at 4388 Walford Street
Winterwood Gardens, a 3-acre, 99-unit building located at 1980 Belcher Drive
Tall Oaks Apartments, a 7.8-acre, 160-unit community located at 2300 Fitzroy Place South
East Worthington, a 9.1-acre, 162-unit property located at 869 East Dublin Grandville Road
“We are pleased to partner with SAR, with whom we have a longstanding relationship, to acquire and invest in improving this portfolio of properties. This transaction reflects Leste’s ability to employ a creative investment structure with a programmatic relationship,” said Jordan Suppan, managing director of Leste Credit, who oversees the firm’s debt and structured real estate transactions, in a statement. “Columbus is facing a demand for quality workforce apartment housing, and we see significant upside potential supported by the area’s demographic trends. This portfolio represents a unique opportunity to add value through targeted capital improvements, and we believe these communities have the potential to become market-leading multifamily locations in the Columbus area.”
SAR Apartment Capital LLC is a multifamily investment firm based in Miami, Florida. SAR has over $162 million in assets under management.
Founded in 2014, Leste Group is a global independent alternative investment manager.