Milestone Alert: Green Harvest Capital Completes Two NEO Multi-Family Housing Acquisitions

January 20, 2020

Contact:

Bhavin ‘B’ Patel
330-949-7423

Michael J. Smith
312-961-5826

Green Harvest Capital (GHC), a multi-family housing real estate group based in Northeast Ohio, has completed the acquisition of two Class C multi-family assets in Cuyahoga County. The portfolio of 105 units was acquired in two separate transactions with two private sellers between $45,000-$50,000 per unit, or approximately one-third of replacement cost.

The apartment complexes are located across the street of each other. The first complex has eight buildings consisting of one, two- and three-bedroom apartments, while the second complex has two buildings consisting of one- and two-bedroom apartments. Both assets are in strong demand and are 96%+ occupied.

GHC Managing Partner Bhavin Patel said, “These assets are an ideal fit for us as they meet our investment thesis. We have a detailed plan in place to improve these assets through technology and green initiatives. Importantly, we are also steadfast on improving the living experience for our tenants.”

GHC Managing Partner Mike Smith said, “We are thrilled to acquire such great assets in Northeast Ohio, where we live and where GHC is solely focused. We targeted these assets as the best in our robust pipeline and believe they will be tremendous for our investors.”

Interested accredited investors can reach out to B Patel and Mike Smith for additional information. To stay updated on GHC, sign up for GHC news alerts on the website (sign up).

Green Harvest Capital is a boutique real estate equity firm focused on B & C grade multi-family / workforce housing in Northeast Ohio. Led by real estate and business veterans B Patel (learn more about B) and Mike Smith (learn more about Mike), GHC is building a solid portfolio of assets for years to come.