The Reserves at Northern Woods

Reserves at Northern Woods is a 316-unit townhome and garden-style apartment community in Columbus, OH.  Acquired with Pointe at Northern Woods (see below) at a compelling discount with clear upside through expense reduction, rent repositioning, and physical enhancements.

Acquired from a local operator, the asset was underleveraged operationally, with bloated expenses and conservative rent growth. The business plan includes a phased renovation of unrenovated units and a capital program addressing deferred maintenance and exterior upgrades.

The investment also benefits from significant economies of shared amenity and staffing synergies with adjacent Pointe at Northern Woods where a joint clubhouse, pool, and fitness center will serve the combined 544-unit portfolio.