Luxury multi-housing community near Cincinnati sells
JLL Capital Markets closed the sale of the 93-unit, Class A Vue 180 on the Water in Newport, KY
CINCINNATI, July 13, 2021 – JLL Capital Markets announced today that it has closed the sale of Vue 180 on the Water a 93-unit, Class A multi-housing community in the greater Cincinnati area of Newport, Kentucky.
Vue 180 on the Water comprises of one- and two-bedroom units with an average of 939 square feet. The apartments feature gourmet kitchens, large custom closets, nine- to 10-foot ceilings, oversized windows, in-unit washer and dryer and spacious private balconies in select units. Community amenities include fitness center, residents lounge, grill station and picnic area, dog park, gated covered parking and controlled building access.
The property, located at 300 Riverboat Row, is a five-minute drive to downtown Cincinnati, 20-minute drive to Cincinnati/Northern Kentucky Airport and a 10-minute drive to Cincinnati Municipal Airport - Lunken Field. Residents of Vue 180 at the Water enjoy easy access to the Cincinnati and Northern Kentucky area via bridges, bike paths and expressways. Three bridges – vehicular and one pedestrian – connect Newport to downtown Cincinnati. Additionally, two bridges on the western boundary of Newport connect to the city of Covington. The community has excellent access to I-471, which provides connectivity to I-275 and I-71, facilitating transportation to all of Northern Kentucky and greater Cincinnati. Additionally, residents have easy access to The Southbank Shuttle Trolley, which travels the riverfront cities of Newport, Covington and downtown Cincinnati, making travel between entertainment venues, sports arenas, shopping and dining destinations easy and enjoyable.
The JLL Capital Markets investment sales advisory team that represented the seller was led by Managing Directors David Gaines and Trent Niederberger, Senior Director Matt McCune and Managing Director Marty O’Connell.
“This sale provided a great opportunity for the buyer to acquire a stabilized multi-housing property in a highly coveted location overlooking downtown Cincinnati, which will allow them to further expand their multifamily portfolio in the immediate area,” Gaines said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Graycliff Capital Partners
Headquartered in Greenville, S.C., Graycliff Capital Partners is a multi-family development and investment company with focus on the Southeast and Mid-Atlantic regions of the United States. Since its founding in 2010, Graycliff has acquired and developed more than 10,800 apartment units, executing approximately $1.85 billion in transactions. Graycliff’s core strategy is based on investing in areas with established economic growth and high barriers to entry. Graycliff is passionate about supporting local non-profits making positive impacts in their respective communities. For more information, visit www.graycliffcapital.com.
About Core Real Estate Capital
Since 2001, CREC Real Estate, LLC has provided access to institutional-quality real estate investment opportunities located throughout the United States. Integrity, relationships and an agile response to evolving property markets define our collaborative investment process. The firm is focused on direct investment and joint venture partnerships with best-in-class real estate firms and developers. CREC currently invests in value-add and core-plus apartment acquisitions and select ground-up developments.