The Champion Companies capitalized on the market demand for multifamily assets in the first quarter of 2020, selling 1,400 units throughout its portfolio in Central Ohio.
The communities attracted multiple out-of-state buyers wanting to increase their presence in Central Ohio real estate. These sales provided healthy investment returns for Champion’s partners.
“The Central Ohio multifamily market continues to be desirable for out-of-state buyers due to high occupancy levels, great employment base and stronger yields than major metros across the country,” said Champion president and chief executive officer Brian Yeager.
The Westerville, Ohio-based real estate firm attributes the demand for multifamily investment to the ever-increasing prominence of renting over home ownership.
“These sales are truly a testament to the solid fundamentals in multifamily real estate,” added Brian Hoar, Champion’s chief investment officer. “With so much capital available, and a demand that’s still out-pacing supply, we will see continued success in this new decade.”
Champion, which celebrated its 10-year anniversary in March, has closed nearly $2 billion in multifamily development, acquisitions and dispositions, involving more than 14,000 units and $250 million in equity investments.