Multifamily i Ohio

Marcus & Millichap sells 304-unit residential community in Columbus suburb

marcus-columbus

Marcus & Millichap recently closed the sale of Troy Farms, a 304-unit community in the Columbus, suburb of Delaware, Ohio. The asset sold for $27 million.

Marcus & Millichap recently closed the sale of Troy Farms, a 304-unit community in the Columbus, suburb of Delaware, Ohio.The asset sold for $27 million.

Michael Barron, Daniel Burkons, Joshua Wintermute, Richard Lattro and Jordan Marshall, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, locally based The Champion Companies. The same team also procured the buyer, Hamilton Point Investments, which is based in Connecticut.

Troy Farms was built in two phases between 2003 and 2006, and offers a mix of one- and two-bedroom garden and townhome units. Each floor plan offers a private entrance, nine-foot ceilings, crown molding, a fully furnished kitchen with breakfast bar, an eat-in dining area, washer/dryer connections and walk-in closets.

The property is located adjacent to a Kroger grocery-anchored shopping center, and only minutes from Grady Memorial Hospital and Ohio Wesleyan University. Additionally, Polaris Parkway, one of Columbus’ largest employment and retail corridors, is only 20 minutes to the south.