Thursday, June 17, 1999
INDUSTRY NOTES: REAL ESTATE
NAI Eagle brokers $17.1M sale
BY RANDY TUCKER
The Cincinnati Enquirer
Steve Timmel and Jeff Johnston of NAI Eagle, a division of Cincinnati-based Eagle Realty Group, recently brokered a $17.1 million deal to sell the Oakwell Farms apartment complex in Nashville, Tenn., to America First Investors of New York.
The sale of the 414-unit complex is the latest in a series of major residential property sales that NAI has completed in Tennessee, South Carolina and Georgia in the last two years.
NAI's primary markets are in Greater Cincinnati and Dayton, Ohio, where it owns and manages more than $1 billion in commercial real estate.
Alexander handles deal for Hyde Park complex
Jan Alexander of Robinson Realtors Inc. recently handled an $8.2 million deal to sell the Chestnut Hill Square Apartments in Hyde Park to real estate firm Connor & Murphy of Centerville, Ohio.
Ms. Alexander represented Chestnut Hill Square, the Connecticut-based owner of the 119-unit luxury apartment complex, in the transaction.
The property is across Ashworth Drive from the Hyde Park Country Club.
Foundation plans major building renovations
John Frank and Mike Hartmann of Colliers International recently represented S&L Enterprises in the $760,000 sale of its 30,000-square-foot office building in downtown Cin cinnati.
The Greater Cincinnati Foundation bought the 89-year-old building and is planning $2.24 million in renovations by February 2000.
Drawbridge remodeling's next phase: guest rooms
As part of a series of improvements, the Drawbridge Estate in Fort Mitchell will begin a $1.6 million remodeling project in July.
The project will include remodeling bathrooms, and new furniture and bed and window dressings for guest rooms.
The project, to be completed by the end of the year, is the the latest phase of renovations at the hotel, which has undergone $5 million in fix-ups over the last three years.
Brunswig named VP, construction director
Madison Marquette, a retail development firm based in Cincinnati, has named Ronald Brunswig vice president and director of construction.
He will assume responsibility for directing construction for Madison throughout the country.
Before joining Madison, Mr. Brunswig provided development consulting services for Urban International, which built the $800 million Core Pacific City regional retail center in Taipei.
5/3 makes its biggest acquisition
CEO sees plenty of room for growth
P&G set to export area jobs
GE sells engines to Embraer
Public gives gambling 3 cherries
Inflation chatter inflated or real?
Updated 'lemon law' in effect in 90 days
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INDUSTRY NOTES: REAL ESTATE
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