COLUMBUS, OH – Leste Group s real estate debt and structured equity arm and SAR Apartment Capital, a national multifamily investment firm, announced they have completed the $23.6 million acquisition of four multifamily properties in Columbus, Ohio that comprise 556 apartments in total.
The properties in the portfolio include: Winterwood Apartments, a 4-acre, 135-unit complex located at 4388 Walford Street; Winterwood Gardens, a 3-acre, 99-unit building located at 1980 Belcher Drive; Tall Oaks Apartments, a 7.8-acre, 160-unit community located at 2300 Fitzroy Place South; East Worthington, a 9.1-acre, 162-unit property located at 869 East Dublin Grandville Road.
Each has convenient access to nearby employers, retail and entertainment, and major highways.
All four properties are located in the Northeast submarket of Columbus, which has loved healthy demand over the past decade. Middle class, workforce housing is driving demand in the submarket and represents nearly half of all units rented there year to date. Rent growth has also performed well in recent years, with average annual gains of 5.8% over the past three years.
We are pleased to partner with SAR, with whom we have a longstanding relationship, to buy and invest in improving this portfolio of properties. This transaction reflects Leste s ability to use a creative investment structure with a programmatic relationship, said Jordan Suppan, Managing Director of Leste Credit, who oversees the firm s debt and structured real estate transactions. Columbus is facing a demand for quality workforce apartment housing, and we see significant upside potential supported by the area s demographic trends. This portfolio represents a unique opportunity to add value through targeted capital improvements, and we believe these communities have the potential to become market-leading multifamily locations in the Columbus area.
The four communities will undergo renovations of both exterior and interior spaces. Exterior updates will include new roofs, upgraded landscaping, exterior lighting, new fencing, and new signage. Interior renovations will feature new bathrooms and kitchens, new flooring, and updated appliances, including new AC units. Common areas, including lobbies, clubhouses and leasing offices, will receive new floors and other renovations, as will pools and fitness centers.
SAR is seeking to source, buy and manage real estate assets with high return potential for our investors, and this property portfolio strongly fits our target acquisition profile, said Abiel Ballesteros, Vice President at SAR. We are pleased to work once again with Leste, and we look forward to transforming these apartments and delivering attractive, quality housing to the residents of Columbus.
The city of Columbus boasts a diversified economy with dynamic population and job growth, fueled by major employers including Ohio State University, state and county government, and such corporations as Nationwide Insurance, JPMorgan Chase & Co., Bath & Body Works, Honda of America, and American Electric Power. Intel has announced plans to construct two semiconductor fabrication plants, set to come online in 2025 and use as many as 3,000 people.

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IRVING, TX – JPI announced a joint venture with Madera Residential and WayMaker on five new developments across the DFW Metroplex. These five assets will provide over 1,750 class A multifamily homes to residents and help serve the growing need for housing in the thriving DFW metroplex. When completed, the joint venture portfolio will include nine communities in total.
The first five communities, Jefferson Railhead, Jefferson Grandscape, Jefferson Cedar Ridge, Jefferson Northlake, and Jefferson Peninsula, are the first to start construction in an agreement between the parties. By the end of 2022, the parties expect to start another four communities together for a total of nine communities, representing over 3,300 homes, and valued at over $1 Billion.
We are grateful for the confidence and trust that these top-tier organizations have invested in JPI s product, said Payton Mayes, JPI s Chief Executive Officer. The alignment of our core values and our business models leave us excited to work alongside their talented teams and hopeful for future opportunities to work together.
Our team has long admired JPI for their excellence in execution and market leadership, said Dave Marcinkowski, Partner at Madera Residential. The opportunity to partner with Waymaker in such a values-forward development that also provides our investors access to these world class communities, in one of the hottest markets in the country, is an exciting expansion of Madera s platform.
One of the truly unique features of this new partnership is the value-based funding contribution to Apartment Life s ongoing financial health and benefit to the multifamily communities. Apartment Life helps apartment owners care for residents by connecting them in relationships. This, in turn, helps improve the community’s financial performance through online reputation, resident satisfaction, and resident retention. The opportunity is to change lives, while changing business.
The opportunity to align with JPI and Madera Residential is a dream come right for WayMaker, said Keith Dunkin, President of WayMaker. Our desire is to serve and like on all our constituents, residents, investors and partners, and this portfolio in conjunction with our community engagement leadership with Apartment Life represents an exceptional opportunity to do just that.
These five communities, which are under construction and leasing up between now and 2025, are slated to provide best-in-class living experiences and top of market amenities throughout the portfolio. JPI has chosen Quext IoT and their uniquely innovative and patented smart apartment platform for these assets, aimed at enhancing the resident experience.

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NEW YORK, NY – Ofer Yardeni, Chairman and CEO of Stonehenge NYC, announced that the company has closed on the buy of 780 Greenwich Street, New York, New York. The six-tale, 70,000 sq. ft. building, which contains 88 residential units, commands a full 148 foot blockfront in Manhattan’s West Village. The property was built in 1950.
780 Greenwich is situated on Greenwich Street between Bank and Bethune Streets in the heart of the West Village, one of the city’s most desirable neighborhoods. This pet-friendly, doorman building is close to many of the city’s most vibrant restaurants, shops, and nightlife offerings and is only steps away from the Meatpacking District, the Highline, as well as the Hudson River Esplanade. 780 Greenwich will join 26 other buildings in the Stonehenge NYC portfolio. The property offers duplex units, a rarity in the West Village.
“We are excited to expand Stonehenge’s presence in the West Village. 780 Greenwich Street represents a right trophy asset as it is one of the few rental buildings in the Village with more than 75 large apartments. I am pleased to say that with this off-market acquisition, Stonehenge NYC now manages two of these rare assets, the other being 10 Downing Street, located just blocks away. We look forward to providing a first-class experience to the residents of 780 Greenwich,” said Mr. Yardeni.
This off-market deal was sourced by Stonehenge NYC which also led the underwriting and due diligence. The company will manage the property, as it does its entire portfolio. Stonehenge NYC plans to upgrade the building’s apartments and amenities to the high standard found throughout its portfolio. The company plans to utilize its best-in-class property management team, technology platform, and lifestyle offerings to enhance the resident experience. Tenants will be able sign leases online, utilize a user-friendly tenant app on their smartphones, and join the Stonehenge community of over 5,000 New Yorkers.

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