INVESTMENT PROPERTY ADVISORS BROKERS THREE MULTIFAMILY SALES

MILFORD, OXFORD AND LOVELAND, OHIO — Investment Property Advisors has brokered the sales of three Ohio apartment communities for a total of approximately $6 million. The first property is Lila Chateau, a 96-unit community located in Milford. The property traded for $3.42 million at an 8.5 percent capitalization rate. The second property is Pinehurst Apartments, a student housing community located adjacent to Miami University in Oxford. The property was acquired by an undisclosed party based in upstate New York for $1.42 million. Finally, Miami Hills, an apartment community located in Loveland, was purchased by a Cincinnati-based investor for $1.15 million. The seller was the property’s original developer. Jeff Dilbone of Investment Property Advisors represented the sellers in all three transactions.