DAYTON, Ohio - February 11, 2020 - (Newswire.com)
Oberer Companies has sold the property known as The Reserve at Monroe Crossings in Monroe, Ohio for $13.6mm, following a competitive bidding process. The property contains 150 residential units and was developed by the Company in 2004. The marketing campaign and sale were facilitated by SVN Affordable | Levental Realty, the listing broker on behalf of the Seller.
“Our property management division, Oberer Management Services, has done a great job maintaining the property and growing value since our development team turned it over to them in 2004,” says Oberer Companies CEO, George Oberer, Jr.
Continuing, “The property has been well maintained, has a great sense of community among the residents, and even maintained 100% occupancy as of the date of closing. We are proud of the job that they do to protect and manage our assets and those of the many third-party clients that they serve.”
“The sale of The Reserve at Monroe Crossings is in line with the strategic vision that Oberer Management Services has to maximize the return on investment for their clients,” says Oberer, Jr.
Oberer Management Services specializes in providing comprehensive, professional property management services both the Oberer portfolio and for third parties. Oberer Management Services manages property in the Dayton, Cincinnati and Columbus markets, currently managing over 30 communities comprised of market-rate and affordable apartments, condominiums and homeowner’s associations, consisting of approximately 5,000 units.
About Oberer Companies & Oberer Management Services
Oberer Companies, a third-generation family-owned business, was founded in 1949. Starting as land developers, the Oberer Companies has expanded into Commercial Construction, Commercial Real Estate, Property Management Services, and Custom Home Building.
For more than 30 years, Oberer Management Services, a subsidiary of Oberer Companies has offered an all-inclusive solution that provides third-party property and asset management services to owners of retail, office, industrial and multi-family residential real estate along with offering additional services that include space planning, cost estimating and tenant improvement construction. With a focus on enhancing property values, our experienced in-house team specializes in correctly positioning assets within their marketplace and streamlining operations to maximize cash flow and long term asset value.
For more information about Oberer Companies and Oberer Management Services, please contact 937.278.0851 or visit at www.oberermanagementservices.com.
About SVN AFFORDABLE | Levental Realty
SVN AFFORDABLE | Levental Realty is a nationally recognized leader in the niche market of Affordable Housing brokerage focusing solely on valuing, marketing and selling Project-Based Section 8 and Section 42 housing through their national platform and proprietary database. Our financial, regulatory and statutory expertise, paired with our strategic alliance of industry professionals, allows us to successfully identify a customized disposition strategy and transaction structure that ensures maximum value and minimal risk for our clients. SVN Affordable can be contacted at 513-321-7589, or via email at David.shlahtechman@svn.com.
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Original Source: Sale of Reserve at Monroe Crossings
