SPP Properties Invests $2.8M in Office, Apt. Assets

SPP Properties LLC, a Beachwood, Ohio-based commercial investment and management firm, acquired a 108-unit multifamily and an adjacent six-unit office property in Parma, OH, from Rispo Investment Co. for $2.81 million. Monica Garden Apartments, a seven-building community, was built in 1987 and is at 5627 Broadview Road. The neighboring six-unit office property was built in 1960 at 5621 Broadview Road. The total square footage of each building is 108,801 square feet and 2,693 square feet, respectively.