(Chicago, Il,  – November 19, 2024) – Clear Investment Group is pleased to announce the acquisition of a 70-unit add on portfolio in Columbus, Ohio. With this addition, Clear Investment Group expands their presence in the Midwest market to over 450 units, when combined with a larger portfolio purchased in December of 2023.

This 70-unit portfolio is approximately 1.3 miles from the current Columbus portfolio and will be an easy operational addition to the existing footprint in this geography.

“We are thrilled to enhance our Midwest presence with this portfolio acquisition in Columbus,” said Amy Rubenstein, CEO of Clear Investment Group. “We continue to underwrite and submit LOIs for deals across the country, though we remain bullish on expanding in Columbus. This purchase aligns with our growth strategy and commitment to finding distressed assets in the workforce-housing sector. By acquiring these units below market value, we see an excellent opportunity to generate attractive returns for our investors while expanding our portfolio in key geographic areas.”

FUND’S GEOGRAPHIC DIVERSITY BENEFITS FROM GROWTH MARKETS

One of the primary drivers behind CIG launching their Clear Opportunities Fund model was the built-in diversification that the Fund structure offered Members. “Columbus, OH is proving to be a booming rental market - which is seeing significant growth due to ongoing economic development,” added Rubenstein.  “The city's affordable cost of living, ample education, and job opportunities are attracting new residents and businesses alike. Tech firms like Google and Intel have announced their major moves to the region, making the city even more attractive.”

“We have consciously invested in a geographically diverse portfolio to mitigate portfolio risk to investors who will also benefit from investments acquired in strong markets than we would otherwise expect,” says Clear Investment Group CFO and Managing Director, Razi Uddin. “Columbus is considered a growth market, and we are seeing indicators, including strong leasing rates, rent growth and healthy demand as we operate these assets.”

With the Columbus acquisition, Clear Investment Group reinforces its position as a leader in the strategic acquisition and disposition of multifamily assets, delivering value for its investors across a growing national footprint.

“In an environment where affordable housing is ever more difficult to find, we deliver quality housing by acquiring distressed assets, and turn keying properties that the working class can feel proud of,” added Rubenstein. “In short, we transform communities using ethical, sustainable and transparent practices-while generating significant returns for our stakeholders.”