Clifton Colony, a multifamily community in Cincinnati, Ohio’s neighborhood of Clifton, has changed hands. Vision & Beyond Capital Investments acquired the 297-unit property and is already underway on the early stages of a significant improvement plan. The seller was CMC Properties. Both the buyer and the seller are Cincinnati-based.
Located at 714 Clifton Colony Drive, the asset is a 49-year-old apartment community built of masonry construction. It features 10 buildings with one- and two-bedroom units renting for between $610 and $976 monthly and has an occupancy rate of nearly 92 percent, according to data provided by Yardi Matrix. The intention of Vision & Beyond is to nominally increase rents on each Clifton Colony apartment as it is renovated.
-Jeffrey Steele, Multi-Housing News
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