144-UNIT MULTIFAMILY PROPERTY SELLS FOR $13.29 MILLION IN OHIO

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BEREA, OHIO — Pennsylvania-based Stone Ridge Apartments LLC has acquired Stone Ridge Apartments, which is located at 1000 Stone Ridge Circle in Berea. The 144-unit property consists of six three-story buildings constructed in 2007. The property has 36 one-bedroom and 108 two-bedroom units. Community amenities include a clubhouse, a 24-hour fitness center, a gourmet coffee bar, a business center and a resort-style heated swimming pool. Daniel Burkons, Michael Barron and Joshua Wintermute of Marcus & Millichap represented the buyer. David Davenport and Barbara Sullivan of Cleveland-based Bellwether Real Estate Capital arranged financing for the acquisition. The seller was not released.

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