SFO expands its footprint into the US Midwest by adding 248 units to its multifamily housing portfolio
SFO Group (“SFO”) announces the acquisition of Polaris Crossing (“Polaris”), a 248 units multifamily community, located in Columbus, Ohio. With an occupancy of 95%+ at acquisition, Polaris is a garden-style community spread over a total net rentable area of 209,080 sqft (19,424 sqm).
Columbus is the emerging powerhouse of the US Midwest; it is home to the second largest university in the nation, Ohio State University, and a leading hub for the movement of goods across the country, hosting more than 4,000 logistics establishments employing over 83,000 people.
Polaris is located in the most affluent district of the city, 5 minutes away from JP Morgan Chase headquarters employing 10,000 people, and less than 20 minutes away from Ohio State University with 30,000 employees.
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO, said: “With this latest acquisition, SFO marks its entry into the Midwest market as we continue to expand our footprint across key US cites that exhibit defensive characteristics. We are excited to add Polaris to our existing portfolio, now exceeding 3,250 multifamily units and 2,250 student beds, and providing a stable and well diversified source of income for our investors”.
About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of September 2022, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.0 billion in assets located primarily in the USA and Europe, including 7,700 apartments and more than 9 million square feet of commercial real estate under management.