Beirut, Lebanon, July 22, 2019
SFO Group (“SFO”) announces the acquisition of Polaris Crossing (“Polaris”), a 248 units multifamily community, located in Columbus, Ohio. With an occupancy of 95%+ at acquisition, Polaris is a garden-style community spread over a total net rentable area of 209,080 sqft (19,424 sqm).
Columbus is the emerging powerhouse of the US Midwest; it is home to the second largest university in the nation, Ohio State University, and a leading hub for the movement of goods across the country, hosting more than 4,000 logistics establishments employing over 83,000 people.
Polaris is located in the most affluent district of the city, 5 minutes away from JP Morgan Chase headquarters employing 10,000 people, and less than 20 minutes away from Ohio State University with 30,000 employees.
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO, said: “With this latest acquisition, SFO marks its entry into the Midwest market as we continue to expand our footprint across key US cites that exhibit defensive characteristics. We are excited to add Polaris to our existing portfolio, now exceeding 3,250 multifamily units and 2,250 student beds, and providing a stable and well diversified source of income for our investors”.
About SFO Group:
SFO Group (“SFO”) is a multi-family office focusing on global real estate investments. In 2018, SFO was recognized as the Best Real Estate Investment Company at the World Finance Awards and named Levant Real Estate Investment Firm of the Year at the Global Investor MENA Award. More recently, SFO was awarded the title of Best International Real Estate Investments Company – Lebanon at the International Finance Awards 2019. With AuM in excess of USD1.0billion, SFO has a proven reputation for successfully identifying, acquiring, and managing real estate assets globally. SFO is a member of Saradar Capital Holding, an active and diversified investment holding that has been at the center of the Lebanese financial sector for over 70 years.