{"id":1004115129,"date":"2015-03-08T18:40:14","date_gmt":"2015-03-09T02:40:14","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=329741"},"modified":"2020-04-13T02:50:54","modified_gmt":"2020-04-13T10:50:54","slug":"steadfast-apartment-reit-buys-192-unit-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/steadfast-apartment-reit-buys-192-unit-asset\/","title":{"rendered":"Steadfast Apartment REIT Buys 192-Unit Asset"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/03\/Columns_on_Whetherington_Main.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-329744\" title=\"Columns_on_Whetherington_Main\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/03\/Columns_on_Whetherington_Main.jpg\" alt=\"\" width=\"300\" height=\"137\" \/><\/a><\/p>\n<p>In its latest Midwestern acquisition, Steadfast Apartment REIT has paid $25 million for a 192-unit, garden-style apartment complex in Florence, Ky. Steadfast has so far invested more than $290 million in eight apartment communities in six Midwestern and Southern states.<\/p>\n<p>Steadfast\u2019s new asset, the Columns on Wetherington, is located at 1620 Corinthian Drive. Completed in 2002 on a 17-acre site, the property consists of 21 apartment buildings and 11 single-story garage buildings. Columns on Wetherington offers two- and three-bedroom apartment units averaging 1,229 square feet, as well as a business center, fitness center, pool and basketball court.<\/p>\n<p>As of Feb. 1, occupancy was 92.7 percent and the average in-place rent was $1,023 per month, Steadfast said in the statement that announced the deal in late February. The REIT plans to renovate both unit interiors and common areas as part of a value-added strategy that will enable the company to increase asking rents. Steadfast did not reveal how much it plans to invest in the revitalization program.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <\/em><a href=\"https:\/\/www.steadfastreit.com\" target=\"_blank\" rel=\"nofollow\"><em>Steadfast Apartment REIT<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steadfast Apartment REIT has made another multifamily acquisition in the Midwestern United States. At the end of February, the REIT announced it has purchased the Columns on Wetherington apartment community for $25 million. Steadfast has so far invested more than $290 million in eight apartment communities, in six Midwestern and Southern states.<\/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":[1583,21742],"tags":[],"class_list":["post-1004115129","post","type-post","status-publish","format-standard","hentry","category-cincinnati","category-latest"],"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>Steadfast Apartment REIT Buys 192-Unit Asset - 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\/steadfast-apartment-reit-buys-192-unit-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steadfast Apartment REIT Buys 192-Unit Asset\" \/>\n<meta property=\"og:description\" content=\"Steadfast Apartment REIT has made another multifamily acquisition in the Midwestern United States. At the end of February, the REIT announced it has purchased the Columns on Wetherington apartment community for $25 million. Steadfast has so far invested more than $290 million in eight apartment communities, in six Midwestern and Southern states.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/steadfast-apartment-reit-buys-192-unit-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-09T02:40:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-13T10:50:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/03\/Columns_on_Whetherington_Main.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/steadfast-apartment-reit-buys-192-unit-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/steadfast-apartment-reit-buys-192-unit-asset\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Steadfast Apartment REIT Buys 192-Unit Asset\",\"datePublished\":\"2015-03-09T02:40:14+00:00\",\"dateModified\":\"2020-04-13T10:50:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/steadfast-apartment-reit-buys-192-unit-asset\\\/\"},\"wordCount\":173,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/steadfast-apartment-reit-buys-192-unit-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/03\\\/Columns_on_Whetherington_Main.jpg\",\"articleSection\":[\"Cincinnati\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/steadfast-apartment-reit-buys-192-unit-asset\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/steadfast-apartment-reit-buys-192-unit-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/steadfast-apartment-reit-buys-192-unit-asset\\\/\",\"name\":\"Steadfast Apartment REIT Buys 192-Unit Asset - 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