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Fannie Mae Sells Wilmington Court Apts.

IPA Handles Trade of $1.6 Million REO Property
November 12, 2012
Fannie Mae sold Wilmington Court at 959 Xenia Ave. in Wilmington, OH, to Cincinnati-based Three M Real Estate Ventures of Ohio LLC for $1.6 million, or about $22 per unit.

The 72-unit multifamily building was constructed in 1994 and consists of 12 two-bedroom/one-bathroom, 24 two-bedroom/two-bathroom and 36 three-bedroom/two-bathroom units. It is about one hour southwest of Cincinnati.

Jeff Dilbone and Steve Turman of Investment Property Advisors represented both sides.

Please see CoStar COMPS #2588724 for more information on this transaction.
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