{"id":1004086278,"date":"2013-11-04T22:20:28","date_gmt":"2013-11-05T06:20:28","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=208945"},"modified":"2020-04-06T21:39:16","modified_gmt":"2020-04-07T05:39:16","slug":"smartland-buys-lee-yorkshire-apartments-in-cleveland-heights","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/smartland-buys-lee-yorkshire-apartments-in-cleveland-heights\/","title":{"rendered":"Smartland Buys Lee-Yorkshire Apartments in Cleveland Heights"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">Smartland, <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/clevelandheights.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-208959\" title=\"Lorien front entrance early evening\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/clevelandheights.jpg\" alt=\"\" width=\"300\" height=\"227\"><\/a>Cleveland\u2019s largest real estate investment firm and one of Ohio\u2019s top property management companies, has purchased the Lee-Yorkshire Apartments. The price of the transaction was not disclosed.<\/p>\n<p style=\"text-align: justify;\">The Lee-Yorkshire Apartments complex is located at 2027 Lee Road, in Cleveland Heights, one of Cleveland\u2019s most desirable suburbs in terms of public transportation, safety, education, amenities and resident services, according to Smartland. It is close to some important Cleveland landmarks, such as the Cedar Lee movie theater, the Lopez restaurant, Cleveland Clinic, Cleveland State University, Case Western Reserve University and University Hospitals.<\/p>\n<p style=\"text-align: justify;\">The complex offers 304 spacious one-bedroom and two-bedroom units, featuring hardwood floors; ceiling fans; walk-in closets; kitchens with built-in cabinets, refrigerators and stoves; full baths; and more. Building amenities also include covered parking and a laundry facility.<\/p>\n<p style=\"text-align: justify;\">\u201cLee-Yorkshire Apartments offers the perfect mix <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/cleveaptaff.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-208958\" title=\"Lorien front entrance early evening\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/cleveaptaff.jpg\" alt=\"\" width=\"285\" height=\"300\"><\/a>of affordable rent and well-managed housing that Cleveland-based tenants\u2014and Ohioans in general\u2014appreciate and have come to expect from Smartland,\u201d Vadim Kleyner, <a href=\"https:\/\/www.smartland.com\/\" target=\"_blank\" rel=\"nofollow noopener\">its CEO<\/a>, said in a statement for the press. He added that his company believes in and wants to contribute to Northeast Ohio\u2019s economic rebirth and that the purchase is part of Smartland\u2019s years-long commitment to bringing high-quality, affordable housing to the area. \u201cOver the last several years, we have restored hundreds of houses in the Cleveland area and have successfully helped reduce vacancy rates throughout Cleveland. We will continue to identify, restore and purchase properties that meet our investment and quality standards,\u201d Kleyner also said.<\/p>\n<p style=\"text-align: justify;\">One-bedroom apartments in the complex rent for $650 per month, while two-bedroom units rent for $725 per month. According to a Marcus &amp; Millichap Greater Cleveland apartment market report for the third quarter of 2013, average effective rents rose to an all-time high of $792 per month. With apartment vacancy in the area at historically low levels, the average effective rent is likely to rise to $804 per month by the end of the year.<\/p>\n<address style=\"text-align: justify;\">Photo credits: <a href=\"https:\/\/www.clevelandpropertymanagement.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Cleveland Property Management<\/a><\/address>\n<address style=\"text-align: justify;\">Charts courtesy of <a href=\"https:\/\/www.marcusmillichap.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Marcus &amp; Millichap Real Estate Investment Services<\/a>.<\/address>\n","protected":false},"excerpt":{"rendered":"<p>Smartland, Cleveland&rsquo;s largest real estate investment firm and one of Ohio&rsquo;s top property management companies, has purchased the Lee-Yorkshire Apartments. The price of the transaction was not disclosed.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21742],"tags":[39423,1815],"class_list":["post-1004086278","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-latest","tag-cleveland","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Smartland Buys Lee-Yorkshire Apartments in Cleveland Heights - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/smartland-buys-lee-yorkshire-apartments-in-cleveland-heights\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Smartland Buys Lee-Yorkshire Apartments in Cleveland Heights\" \/>\n<meta property=\"og:description\" content=\"Smartland, Cleveland&rsquo;s largest real estate investment firm and one of Ohio&rsquo;s top property management companies, has purchased the Lee-Yorkshire Apartments. 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