Sapphire Partners has acquired a Columbus, Ohio-based multifamily community. No financial terms were disclosed. Previously known as Roundtree Rentals, the property will rebrand as Parkside at Maple Canyon.
NEW YORK, Feb. 3, 2020 /PRNewswire/ — Sapphire Partners has acquired a 122-unit multifamily community in Columbus, OH, adding it into its owned portfolio. The property, previously known as Roundtree Rentals, is a beautifully landscaped, townhome style community that provides tenants easy access to Columbus’ downtown. It is to be rebranded as Parkside at Maple Canyon under Sapphire’s ownership. The property, originally built in the late 1980s, serves the northern Columbus area and is positioned as a long-term, value-add investment for Sapphire.
“We’re very excited to bring Parkside under our wing. Parkside as a community is already in excellent shape and has been loved by its tenants for years. Our goal is to provide oversight and capital to elevate the property even further and make sure its amenities stay up to date into 2020 and beyond. We look forward to improving and building upon this great community here in northern Columbus,” said Steven Saperstein, Principal at Sapphire.
Sapphire specializes in investments with a favorable risk-reward profile. Parkside at Maple Canyon represents Sapphire’s first venture into the Columbus market, and an excellent opportunity for Sapphire to add value to a property with great fundamentals that can benefit from new ownership.
For more information on Sapphire Partners, visit www.SapphirePartners.com and find Sapphire on Twitter, Facebook, and LinkedIn.
About Sapphire Partners
Sapphire Partners is a multifaceted investment firm that operates, manages, and consults on commercial real estate throughout the United States. Sapphire’s principals and investment partners view the alternative asset landscape with experienced eyes, having collectively worked on billions of dollars of total capitalized investments over many years. Sapphire operates under an “interests-aligned” mindset, meaning it only works on projects where its responsibility to increase a property’s value corresponds with tenants’ desire for a better space.