COLUMBUS—PCCP, LLC recently provided a $29.48 million senior loan to what it called “a private high net worth investor” for the acquisition of The Heights, a new two-building, class A apartment complex comprising 193 units located at 160 W. Wilson Bridge Rd. in suburban Worthington.
The seller was Crawford Hoying, a local developer, who began building the community in September 2013. Hoying finished the smaller, 59-unit building last September and plans to complete the larger, 134-unit apartment building, which also includes 23,320 square feet of office space, sometime this month.
“PCCP provided this senior loan to an experienced, private owner who is knowledgeable on the local market,” says John Randall, managing director with PCCP, LLC.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
