A lot of The Banks, Cincinnati’s riverfront growth, simply went up on the market.
Nicol Funding Co. introduced Wednesday that it was promoting the 2 luxurious residence complexes on the heart of The Banks development on the Ohio River between Paul Brown Stadium and Great American Ball Park.
The bundle consists of the Present on the Banks and Radius on the Banks and about 100,000 sq. ft of ground-floor retail area in every constructing.
The Nashville-based actual property funding agency acquired the Present in 2014 and co-developed Radius in 2017.
The agency didn’t disclose an asking value however cited “market demand for institutional high quality, mixed-use tasks” because the impetus for the sale.
“Present and Radius are a few of the solely multifamily communities located between two skilled sports activities stadiums. The encircling space, together with the Ohio River, the Icon Music Heart and the Smale Riverfront Park, is unmatched not simply within the area, however within the nation,” Nicol stated in a press launch.
The Current has 300 items with high-end facilities, together with a roof-top pool, clubhouse with a complimentary espresso bar and a 24-hour health studio.
As well as the constructing, which opened in 2013, has greater than 77,000 sq. ft of ground-floor retail area, together with The Holy Grail, Jefferson Social, Fishbowl and Ruth’s Chris bars and eating places.
Radius opened in 2017 with 292 items and includes a yoga-and-spin studio, health heart and an expansive pool and sundeck.
E+O Kitchen and Style of Belgium anchor the greater than 19,000 sq. ft of ground-floor retail on the Radius, which additionally consists of The Escape Recreation Cincinnati.
Nicol stated the sale is in step with its timeline for promoting properties it develops in about 5 years.
As soon as the sale is full, Nicol stated it will redeploy the proceeds in rising markets, which can embrace Cincinnati.
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