Source: Champion Real Estate Services / #Apartments #Multifamily
DELAWARE, OH - Champion Real Estate Services has successfully purchased all 304 apartments at the Troy Farms apartment community in Delaware, Ohio. Champion acquired the units in three phases over the course of a year from 20 different sellers, and now owns the community in its entirety.
"We have been the property management company for Troy Farms since May of 2013, and it has always been our intention to purchase the entire site," Brian Yeager, Champion's president and CEO, said.
"With the recent growth in population in Delaware we have seen a high demand for apartments. Troy Farms is one of only a few apartment communities that have been built in the city in the last 10 years," Yeager added. "Those factors, among others, made Troy Farms an attractive opportunity for us."
Champion obtained a Freddie Mac loan for a fixed interest rate of 4.61 percent over a 10 year term for this project.
"This community is a great, long-term asset for Champion," Yeager said. "Delaware, Ohio is a thriving city and Troy Farms will serve our company well for years to come."
Founded in 2010, Champion is a privately-held, fully-integrated, multifamily real estate firm that currently manages more than 4,000 apartment units.