Largest C/I Transaction - 2007

Edmond Joseph
CB Richard Ellis, Inc.

The Largest Transaction in 2007 sold for $57, 500,000 and was handled by Edmond Joseph, CB Richard Ellis, Inc. This transaction involved the purchase of an 827-unit Multi-family apartment building located at 4765 Blairfield Drive in Columbus, Ohio.

This multi-family apartment building was in an excellent location and catered to Ohio State University upper classman, graduate students, students working at the University, etc. The unit was an excellent choice for someone looking for a lucrative investment opportunity.

However, housing for students require a different business mindset than leasing property in the general marketplace. The previous owners (sellers) did not completely understand this mindset and the property was under utilized.

In step local buyers, who had previously owned property in the campus area, were comfortable with their knowledge of the area and their experience in operating student housing. The sale of this property to these buyers was a win for all parties involved in this transaction.

For Ed and CB Richard Ellis, the sale also represented a full circle moment for them in that they had originally represented the seller in the purchase of this property in August 2001 and were now representing the buyer in the successful purchase in 2007.