Pine Crossing Apartments

​​​​​​​Colliers is pleased to present Pine Crossing Apartments to the market for bid. The Pine Crossing offering is a receiver-led disposition of a 1972 built garden-style apartment property that consists of eight 3-story garden-style buildings and sits on ample greenspace for potential amenity enhancements. The property recently completed its decontrol period and now operates as a 100% Market-Rate multifamily property, unencumbered by any restrictive covenants. Pine Crossing's desirable unit mix of 14% one-bedrooms, 73% two-bedrooms, and 13% three-bedrooms, attracts long-term tenants and family-oriented renters seeking affordable access to the Hilliard School District. Amenities include a clubhouse, fitness center, swimming pool, picnic area, community gardens, and laundry facilities. 

Strategically positioned with convenient access to major transportation corridors, including I-70 and I-270, Pine Crossing offers residents seamless connectivity to Downtown Columbus, The Ohio State University, and major workforce employment hubs. Pine Crossing is a highly visible and accessible 192-unit value-add workforce housing property with a favorable unit mix located in the City of Columbus and the coveted Hilliard School District. Currently 75% occupied, new ownership has the immediate ability to renovate units efficiently and restabilize the property at an attractive yield on cost for long-term cash flows. Rental premiums are already demonstrated throughout the competitive set and robust renter demand is driven by 52 million square feet of Industrial space within a 5-mile radius from the property. 

Hilliard is one of Columbus' most exciting submarkets for economic development with premier accessibility. The City of Hilliard is advancing several transformative economic development initiatives, including the AWS Hilliard Campus, Logistix Hub, Hilliard City Lab, and Truepointe that will deliver over 5 million square feet of high-tech manufacturing, new office space, and luxury apartment buildings. Nearby, Ohio State's new Wexner Medical Center Tower, Ohio Health's Riverside Women's Health Hospital and Downtown Trauma Hospital, and Nationwide Children's Main Hospital Expansion will have meaningful impacts on high-quality workforce housing demand drivers. Residents also enjoy close proximity to Raymond Memorial Golf Course, the Scioto River, Quarry Trails Metro Park, and many more recreational destinations within a short commute. 

Under Contract/Escrow