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Oak Glen Apartments I & II

Oak Glen Apartments is a 144-unit garden style apartment property in North Canton, OH.  DBC Real Estate Management led the acquisition in May 2013 of the first 96-unit phase of the property and quickly followed up with the acquisition in October 2013 of the second 48-unit phase.  Located on the main North/South commercial corridor leading directly from downtown Canton to the new regional mall and retail hub in North Canton, Oak Glen enjoys strong traffic visibility and is directly on the major mass transit routes leading to and from downtown Canton.  The property is well located in a stable residential area and directly adjacent to more upscale neighborhoods to the North.  DBC identified these two apartment properties (originally developed as one project but subsequently split up into different portfolios) as good investments in the Canton/Stark County region and was able to structure acceptable terms with two separate owners and close on both properties within a very tight time frame.  Recombining the properties into a single rebranded complex allowed for economies of scale and a better mix of one and two bedroom units.  The Stark County region is experiencing economic growth as a result of exploration and drilling activities and the construction of major regional corporate facilities associated with the Utica Shale deep gas reserves.  Located close to retail and services in a desirable residential area, Oak Glen Apartments will be well positioned to take advantage of the rental housing demands typically associated with such growth.

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