One Lytle Place – Cincinnati, OH

Opportunity:

Joint-venture with Barrett & Stokely (B&S), an experienced owner/operator of residential apartments. Headquartered in Indianapolis, B&S owns and manages over 10,000 units including several urban properties. One Lytle Place is in a prime location in the heart of downtown Cincinnati along the Ohio River just a short walk from major employers, restaurants, and major entertainment venues. The downtown area has seen a resurgence of housing, entertainment, and office construction in recent years. There was investment upside through the planned rehabilitation of 191 units. 40 units previously upgraded by the seller are achieving average monthly rent premiums of $130/unit.

Property:  25-Story Multi-Family Apartment BuildingOne Lytle Place

Size:  267 Apartment Units and 419 Space Parking Garage on 0.407 Acres

Built:  1980

Purchased:  June, 2011

Realized:  December, 2015

Ownership:  Lytle Capital Partners LLC, joint-venture owned 75% Westminster Lytle LLC (100% Fund VIII) and 25% B&S Ohio Investors, LLC

Web:  OneLytle.com

View a detailed map of this property (MapQuest).

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