Fairview Residential And Namdar Realty Group Acquire 189-Unit Multifamily Property In Cleveland For $16.5M

A 189-unit multifamily property has been acquired in Cleveland, OH, with a sale price of $16,500,000. The total square footage is 340,000, equating to a price per unit of $87,301 and a price per square foot of $48.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $16,500,000
• Units: 189
• Square Footage: 340,000
• Price Per Unit: $87,301
• Price Per Square Foot: $48
• Buyer: Fairview Residential - Dan Gorjian & Blake Namdar; Namdar Realty Group - Igal Namdar
• Seller: Monarch Investment Group
• Seller's Representative: Michael Barron - Marcus & Millichap

The acquisition was made by Namdar Realty Group in partnership with Fairview Residential, showcasing their continued strategy of targeting contrarian, value-add, and distressed multifamily investments across the nation. Interested parties are encouraged to send deals to [email protected] or [email protected].