Southfield-based Douglas Capital Partners, a value-add real estate investment firm, has bought three properties around Columbus, Ohio, the firm’s first investments outside of Michigan.
The $25 million portfolio is collectively 385,000 square feet, and is comprised of SouthPark XX, a Class A industrial property located in Grove City, Ohio, and two office buildings located in Dublin, Ohio.
According to Douglas Capital, the properties acquired are in key neighborhoods within the Columbus metropolitan area. The action underscores Douglas Capital Partners’ commitment to identifying and investing in properties with strong growth potential and significant value.
SouthPark XX is located in the industrial hub of Grove City. This property should offer institutional quality industrial space in a market that has limited opportunities for new development.
Upper Metro Place is in the heart of the Metro Center business district of Dublin. With its location, it should provide an ideal environment for businesses to innovate as well as the benefit of being part of Dublin’s Metro Center revitalization efforts. The Emerald Professional Building is situated in the center of Dublin’s corporate corridor.
“We are thrilled to announce the expansion of our portfolio with the acquisition of these three exceptional properties in the Columbus area,” says Glenn Pavey, founder and principal of Douglas Capital Partners. “These investments mark an exciting milestone for our firm as we extend our footprint beyond Michigan for the first time. We are confident that these acquisitions will not only enhance the value of our portfolio but also allow Douglas Capital Partners to contribute positively to the vibrant communities of Columbus.”
Douglas Capital Partners is well-positioned to maximize the value of these acquisitions and drive long-term growth, says Pavey. The firm expects this portfolio to be the first of many investments throughout Columbus and is currently working on other opportunities.
