Milestone Alert: GHC Surpasses 1,000 Unit Mark with Completion of 9th Northeast Ohio Multi-Family Housing Acquisition!
Green Harvest Capital (GHC), a real estate private equity group based in Northeast Ohio (NEO), has surpassed the 1,000-unit ownership mark with the completion of their latest Class C multi-family acquisition in the Greater Akron area. This is GHC’s 9th acquisition since its launch in mid-2019.
The acquired Greater Akron area assets will be part of GHC’s South region and managed by GHC Living. The workforce housing assets are in GHC’s backyard, near legacy GHC assets, and in proximity to a state of the art, 2.5 million square feet Amazon fulfilment center. Other nearby employers include Goodyear Tire and Rubber, Summa Health System, Gojo, Akron General Health System, and the University of Akron.
The acquisition complements GHC’s broad portfolio consisting of multi-family assets in the western suburbs of Northeast Ohio, around Shaker Height’s popular Van Aken district, Akron’s trendy Highland Square neighborhood and the lakefront city of Euclid.
GHC Principal Bhavin Patel said, “Through my participation with the Greater Akron Chamber and our existing assets in/around Highland Square, I truly believe the Greater Akron area has significant economic growth ahead. This acquisition, our largest single purchase, is a sizeable workforce housing asset, which we believe can provide vital housing to the growing workforce in the region.”
GHC Principal Mike Smith said, “We would like to thank all parties involved for sticking with this deal. It took over a year from our initial discussion on the assets to closing the deal, but we cannot be happier. These assets are in our backyard, and we are ready to jump in and provide an upgraded product to the tenants through our $5,000,000 capital improvement budget.”
Green Harvest Capital would like to thank key partners who helped this project cross the finish line, including Nathan Felker, Ted Motheral, Tyler Bobes, Simon Demian, Shannon Telling, Lindsay Svetlak, and Gail Bisesi from Walter Haverfield, Brian Stulak and Jim Klosz from Marcus & Millichap Capital Corporation, John Mark Tichar from Oswald, and Charlie Gagliano and Josh Wintermute from IPA.
GHC strives to provide a better product for tenants, improve the community where our properties are located, and provide a fair and balanced return for our partners. To discuss opportunities to work, partner and/or invest with GHC, please contact B Patel and/or Michael Smith. www.ghc-lp.com