Hamilton Point Fund Buys Ohio Multifamily Property
HPI Real Estate Fund V, a real estate private equity investment fund sponsored by Hamilton Point Investments, purchased its first property – Enclave at Albany Park – for $13.5 million. Enclave at Albany Park is a 156-unit multifamily property in the Columbus suburb of Westerville, Ohio.
Constructed in 2001, Enclave at Albany Park is comprised of studio, one- and two-bedroom units and includes a fitness center and swimming pool. The three-story property is adjacent to Hamilton Quarter, a 1.7 million-square-foot mixed-use development currently under construction. The company said that it intends to complete a modest upgrade to the common area and unit interiors to increase revenues and property values.
HPI Real Estate Fund V focuses on investing in post-2000 construction apartment properties located in secondary growth markets and purchased below replacement cost.
Hamilton Point Investments is a real estate investment company based in Old Lyme, Connecticut that owns and manages multifamily apartment properties and invests through a series of Reg D real estate private equity investment funds. The company has sponsored five real estate funds and seven DSTs to date, acquiring more than 9,500 apartment units since formation. HPI manages its assets through wholly-owned Hamilton Point Property Management LLC, which is located in Atlanta.
