Ohio

Lock-Pointe-Columbus
Build-to-RentDevelopmentMidwestNewsOhio

Stark Enterprises to Break Ground on Lock Pointe Village in Ohio

by Lynn Peisner

CANAL WINCHESTER, OHIO — Stark Enterprises, a Cleveland-based developer, has announced Lock Pointe Village, a 120-unit build-to-rent community in Canal Winchester, about 18 miles southwest of Columbus, Ohio. Stark has acquired land at 6700 Nathan Drive, secured financing and is planning to break ground later this spring. The development will be comprised of 37 buildings. Units will feature private driveways and attached two-car garages. Amenities include a fitness center, sports court and a dog park. Completion is slated for 2027.

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Sankofa-Village-Cleveland
Affordable HousingDevelopmentMidwestNewsOhio

Pennrose and Partners Complete Final Phase of $115M Affordable Housing Redevelopment

by Lynn Peisner

CLEVELAND — Cuyahoga Metropolitan Housing Authority (CMHA), The City of Cleveland, Pennrose, Falbo Group and project partners have opened Sankofa Village IV. With the opening of this 50-unit affordable housing community, the $115 million, 236-unit Cedar Extension Transformation Plan in the Central neighborhood of Cleveland is complete. The overall project was a redevelopment of the 17-acre former Cedar Extension site, which was a public housing area built in the 1950s. Phase IV included one, two- and three-bedroom floor plans in a mix of townhouse and apartment units available at 30 …

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Mansions-at-Riverside-Tulsa
Company NewsInvestment SalesKentuckyMidwestNewsNortheastOhioOklahomaSoutheast

Morgan Properties Buys Dream Residential REIT for $345 Million

by Lynn Peisner

CONSHOHOCKEN, PA. — Morgan Properties has acquired Dream Residential Real Estate Investment Trust, a public Canadian REIT, for $345 million. Acquisition of the Toronto-based REIT included 15 properties now privately owned by Conshohocken-based Morgan Properties. The properties comprise 3,300 units in metro areas throughout Texas, Ohio, Kentucky and Oklahoma. Morgan will invest $58 million in interior and exterior enhancements and amenity upgrades in the 15 communities, which were developed between 1968 and 2002. In 2025, Morgan has completed $1.5 billion in acquisitions, comprising approximately 14,000 units and 80 properties. TD …

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The-Aries-Columbus
Affordable HousingDevelopmentFinanceMidwestNewsOhio

Merchants Capital Secures $152.3 Million for Affordable Housing Development in Suburban Columbus, Ohio

by Lynn Peisner

WHITEHALL, OHIO — Merchants Capital has secured $152.3 million in financing for the construction of The Aries Lofts, a 315-unit affordable housing community LDG Development is building in Whitehall, located about 8 miles east of downtown Columbus, Ohio. The financing package includes a $42.7 million Freddie Mac permanent loan, a $60 million tax-exempt construction loan, an $8 million equity bridge loan provided by Merchants Bank and $41.6 million in 4 percent Low-Income Housing Tax Credit (LIHTC) equity. Upon completion, which is estimated to be 2027, The Aries Lofts will offer …

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Affordable HousingDevelopmentMidwestNewsOhio

The NRP Group Opens The Lofton in Columbus

by Lynn Peisner

COLUMBUS, OHIO — The NRP Group has completed and opened The Lofton, a 245-unit affordable housing community in the South High neighborhood of Columbus. Developed in partnership with the City of Columbus and a nonprofit group called Community Development for All People, the property’s units are reserved for households earning incomes ranging from 30 to 80 percent of area median income. The Lofton features a mix of one- to four-bedroom residences and a 3,500-square-foot ground-floor commercial space that will house a daycare operator. Amenities include a fitness center, a community …

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The-Meadowlands-Madison
Affordable HousingColoradoGeorgiaMarylandMidwestNew YorkNewsNortheastOhioOperationsSouth CarolinaSoutheastTexasVirginiaWesternWisconsin

WinnResidential Tapped to Manage 28-Property Affordable Housing Portfolio

by Lynn Peisner

INDIANAPOLIS — WinnResidential has been retained by KCG Cos. to operate 28 of the Indianapolis-based developer’s properties. Winn assumed leadership of operations and property management of 4,147 units in July and is expected to be selected to manage future communities over the coming year. KCG-owned workforce and affordable housing communities are located in Colorado, Georgia, Maryland, New York, Ohio, South Carolina, Texas, Virginia and Wisconsin. The company’s portfolio is comprised of approximately 34 communities. WinnResidential is the property management division of Boston-based WinnCompanies.

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Lofts-at-40-Long-Columbus
Affordable HousingDevelopmentFinanceMidwestNewsOhio

Merchants Capital Provides $35.1 Million in Tax Credit Equity for Ohio Affordable Housing Adaptive Reuse Project

by Lynn Peisner

COLUMBUS, OHIO — Merchants Capital has secured $35.1 million in tax credit equity on behalf of Woda Cooper Cos. and IMPACT Community Action. The co-developers will use the equity to fund an adaptive reuse project in Columbus called Lofts at 40 Long. The city identified the project in its 2022 plan. Developers will convert a vacant YMCA building into 121 apartments reserved for families earning between 30 and 80 percent of area median income. Merchants Capital secured $18.5 million in 4 percent Low-Income Housing Tax Credit equity (LIHTC), $11.4 million …

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The-Collins-Cleveland
DevelopmentMidwestOhio

The NRP Group Completes The Collins in Cleveland

by Lynn Peisner

CLEVELAND — Locally based The NRP Group has opened The Collins, a 316-unit luxury community on Cleveland’s Scranton Peninsula, a strip of land surrounded by the Cuyahoga River that was home to industrial businesses from the late 1800s through much of the 20th century. BKV Group was the architect, Dollar Bank served as the construction lender, and the Ohio Department of Development provided funds through its Brownfield Remediation and state Opportunity Zone programs. The Ohio Water Development Authority provided gap financing, and the City of Cleveland provided tax abatement and …

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Churchill-Gateway-II-Cleveland
Affordable HousingDevelopmentMidwestNewsOhio

NRP Group Breaks Ground on Second Phase of The Davis in Cleveland

by Lynn Peisner

CLEVELAND — The NRP group has begun construction of Churchill Gateway II, which is the 70-unit second phase of an affordable housing development in Cleveland’s Glenville neighborhood. The first phase, known as The Davis, opened in 2022. Churchill Gateway II will offer one-, two- and three-bedroom residences for individuals and families earning between 30 and 60 of the area median income. Together, both phases total 122 units. Completion is slated for 2026. Development and financial partners include KeyBank, the City of Cleveland and the Ohio Housing Finance Agency, with support …

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Village_on_Spring_Mill
FinanceGeorgiaIndianaKentuckyMidwestNewsOhioSoutheast

Buckingham Cos. Lands $330 Million Loan for Seven-Property Portfolio

by Lynn Peisner

INDIANAPOLIS — Indianapolis-based investor Buckingham Cos. has received a $330 million loan to refinance seven properties in five states. The New York-based CBRE Debt & Structured Finance team of Shawn Rosenthal, Jason Gaccione, Tom Traynor, Tom Rugg, Jake Salkovitz, Henry Fenmore, Lauren Weinstein and Justin Helbling arranged the floating-rate loan funded by Goldman Sachs and Atlas SP Partners. Buckingham’s portfolio comprises 2,381 units. The firm began acquiring the properties, which were constructed between 1982 to 2021, seven years ago and has invested approximately $45 million in capital improvements since then, …

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