Schottenstein Real Estate Group Sells $177 Million in Developments and Announces 1200 New Units in Construction

COLUMBUS, Ohio, Feb. 2, 2021 /PRNewswire/ -- Schottenstein Real Estate Group, one of the largest real estate development companies in the Midwest, announces the sale of three of their developments totaling $177 million.  The Delaware County developments included are Powell Grand Communities, located on Sawmill Parkway and Seldom Seen Roads, and Northlake Summit located at Route 36/37 and I-71, which were sold to Cortland.  Additionally, Central Gardens Grand located in Palm Beach Gardens, FL was sold to L&L Investors.  Managing Partner for Schottenstein Real Estate Group, Corey Schottenstein stated, "Our developments were located in perfect locations for these times in high end suburban areas, and the type of product we develop is probably one of the best real estate investments in the current economic climate."

President of Schottenstein Real Estate Group, Brian Schottenstein says, "Our company has been fortunate to achieve a great year despite the unfortunate Covid pandemic, thanks to all of our employees involved and the nature of our developments.  We currently have over 1200 new units in construction, and as our industry continues to boom, more are planned."

Schottenstein Real Estate Group's focus on high end rental developments is strongly evident in their recent projects.  One of the newest:  Liberty Grand Communities is the first ever large planned rental community approved in Liberty Township, Delaware County, OH.  Liberty Grand Communities sits on 300 acres just northwest of Olentangy Liberty High School near Sawmill Parkway and Home Roads.  It includes a mix of townhomes, garden apartments and ranch homes, all with one or two car garages and multiple newly designed plans including those with first floor master bedrooms.  Residents can take advantage of innovative amenities including a 14,000 square foot clubhouse, bocce ball, pickle ball, dog park, putt putt, a community garden, resort style pool and lap pool, lounges, fishing pier, cafes, card rooms and a 24-hour fitness center.  Liberty Summit is also in construction in Liberty Township, Delaware County, OH.  Orange Grand Communities is currently being developed as the newest and nicest rental community ever built in Orange Township, Delaware County, OH.

Brian Schottenstein states, "Liberty and Orange Township in Delaware County, OH have been great to work with in public/private partnership, and they encourage the need for quality multifamily developments planned, designed and built to the highest standards."

For more information visit www.schottensteinrealestate.com.

SOURCE Schottenstein Real Estate Group