9/24/2007

Crawford Communities looking to sell 3,022-unit multifamily portfolio

by

Alkire Glen Apartments

Dublin, Ohio-based Crawford Communities is looking to sell a 3,022-unit portfolio of apartment properties in suburban Columbus, Ohio, for $196 million, according to Eric Taylor, senior investment advisor at Hendricks and Partners.

The portfolio contains 11 properties, nine of which were constructed within the past 10 years. The portfolio is 95 percent occupied and contains a total of 3,101,430 square feet of rentable space.

Hendricks & Partners' Detroit office is marketing the properties.

Crawford Communities is an apartment community owner and operator that owns 25 properties within the Columbus metro area.

Properties in the portfolio:

- 252-unit Alkire Glen at 4053 Henna Way, Columbus, Ohio. Built in 2000 on 15.54 acres.

- 250-unit College Park at 1669 College Park Drive, Columbus, Ohio. Built in 2000 on 20.84 acres.

- 288-unit Creekside at Taylor Square Phase I and 96-unit Creekside Phase II at 2422 Banks Edge Way, Reynoldsburg, Ohio. Built in 2000 on 36.87 acres.

- 252-unit Gateway Lakes at 3799 Gateway Lakes Drive, Grove City, Ohio. Built in 2000 on 20.94 acres.

- 440-unit Mayfair Village at 3331 East Broad Street, Columbus, Ohio. Built in 1950-1952 on 27.2 acres.

- 112-unit Sharon Glen at 6785 Oakton Lane, Columbus, Ohio. Built in 1996 on 4.21 acres.

- 404-unit Steeplechase Village at 6770 Shook Rd., Columbus, Ohio. Built in 1963 on 102.48 acres.

- 272-unit Templeton Crossing at 5418 Arbrook, Columbus, Ohio. Built in 2001 on 20.29 acres.

- 128-unit Troy Farms at 83 Equestrian Way, Delaware, Ohio. Built in 2006 on 12.84 acres.

- 528-unit Washington Meadows at 699 Wellingshire Blvd., Worthington, Ohio. Built in 1986-1988 on 60.82 acres.

Size: 3,022 units/11 properties/3,101,430 square feet

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