|Price/Rent PSF||$ 9,875,000.00|
|SQ. FT. Available||77,662|
The Oasis and villas are located in the Inver-West subdivision, a planned development located on the south side of Dorr Street in suburban Toledo, Ohio. Dorr Street is a major commercial throughway in the region running from the CBD to the western suburbs. Inver-West is located just west of the famous Inverness Club and the headquarters of Welltower, a Toledo based real estate investment trust. The University of Toledo (19,000 + students) is located 1.4 miles to the east on Dorr Street. The site is also just east of Dorr Street’s intersection with Reynolds Road, one of the City’s major north/south thoroughfares. The site is also just east of the recently announced new interchange to be created at Dorr Street and US 23/I -475 in the next several years. This interchange will significantly enhance the connectivity of properties in the Dorr Street corridor.
This offering provides investors with an opportunity to acquire high quality assets with a long history of strong and stable performance. The properties are newer, well managed and beautifully maintained by the seller who is the original developer and require no near term capital expenditures.
The Oasis is a gated luxury apartment community with all of the features demanded by today’s high end renter. The villas meet the needs of a different but similarly upscale resident. Both were designed with keen attention to detail and reflect the owners’ lifetime of experience as an apartment developer and operator. The outstanding location and feature packed design makes the units easy to lease. The scale of the property allows it to be operated efficiently as a stand-alone asset or readily absorbed by an owner with an existing portfolio in the region. The scale also would support third party management. As a consequence of all of these factors, these assets would be an ideal acquisition for a less experienced apartment investor.