Columbus, Ohio-based CREC Real Estate, LLC has completed five acquisitions in the first half of 2022, bringing the company’s total number of investments to 59 across 19 states.
CREC anticipates the second-half activity will be consistent with the first half, given its pipeline of future opportunities.
With more than $1 billion of real estate assets under management, CREC specializes in multifamily real estate investments in top-performing secondary cities throughout the United States. The recently acquired properties are in Phoenix; Dallas; Charleston, South Carolina; Carmel, Indiana; and Columbus, Ohio.
CREC’s latest acquisitions are:
- a 180-unit multifamily community in North Phoenix, Arizona
- a 123-unit multifamily community in Grand Prairie, Texas, a suburb of Dallas
- a 96-unit multifamily community in West Ashley, a neighborhood of Charleston, South Carolina
- a 314-unit multifamily community in Carmel, Indiana
- a 92-unit multifamily community in Columbus, Ohio
CREC typically acquires Class-B or -C workforce apartment complexes requiring some level of value-add renovations to update common areas, amenities and unit interiors, bringing its properties on par with nearby recently repositioned residential communities.
