Kayne Anderson Acquires One Pearl Place Multifamily In Columbus For $55.8M

The One Pearl Place apartment complex near Ohio State University has been sold for approximately $55.8 million. The property, located at 55 East 9th Avenue in Columbus, Ohio, consists of 259 units. The sale price equates to a per unit price of $215,444.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $55,800,000
• Units: 259
• Price Per Unit: $215,444
• Buyer: Albert Rabil - Kayne Anderson
• Seller: Edwards Cos
• Market: Columbus, Ohio

The property was sold by Edwards Cos to a LLC affiliated with Kayne Anderson, a Boca Raton, Florida-based company specializing in student and senior housing. This transaction marks Kayne Anderson's only property in the Ohio State University area. It is worth noting that there are ongoing proposals for new housing developments in the University District, including projects by UpCampus and Buckeye Real Estate.