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192-Unit Grandview Summit Commands $14.7 Mil

CRESTVIEW, KY-A Boston pension fund buys the luxury apartment complex in suburban Cincinnati from Valley View Ridge, Ltd. The deal brokered by Birmingham, MI-based Dietz Organization does not include a third, 96-unit, phase.

By Robert Carr | Updated on June 20, 2001

CRESTVIEW, KY-Grandview Summit, a high-end apartment complex located in this Metro Cincinnati suburb, has sold for $14.7 million. Birmingham, MI-based Dietz Organization brokered the sale to Realty Ventures XVI, L.L.C., a pension fund headquartered in Boston from Valley View Ridge, Ltd., a Kentucky-based development company..

The complex consists of 192 units in phases 1 and 2. Construction of the two-and three-bedroom garden-style apartments began in 1997. Phase 3, which has 96 additional units, is currently under construction and was not part of the cash sale. Phase 4 also is planned. Grandview Summit is located 15 minutes south of Downtown Cincinnati.

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