IPO is pleased to present the exclusive marketing of the Toledo North Portfolio, which consists of seven apartment communities: Hidden Village Apartments (72U), North Erie Apartments (19U), Hillview Apartments (41U), Inverness Manor (24U), LeParc Apartments (27U), 3158 Algonquin (6U), and 5664-5706 Harschel (8U). In total, there are 197 units in the city of Toledo. This portfolio is operating at a stabilized level of operations, in close proximity to each other.
Situated on the bank of Lake Erie directly south of the Michigan border, the Toledo MSA is home to over 650,000 people. Toledo is the county seat of Lucas County and is the fourth largest city in the state of Ohio. With approximately 275,000 residents, Toledo serves as a major trade center for the North Central United States and its port is the fifth busiest in the Great Lakes. Toledo is strategically located at the intersection of Interstate 75 (I-75) and the Ohio Turnpike (I-80/90), and is only a couple hours away from several of the largest cities in the Midwest: Detroit, Cleveland, Columbus and Indianapolis. Several interstates and highways converge on this region, including I-75, I-475, I-280, US-23 and US-24. This excellent location facilitates commutes and enables convenient access to a large area for residents and businesses alike. Additionally, the Detroit Metropolitan Airport, one of the top international airports, is located 45 miles north of the portfolio.
Toledo is a diverse community that offers residents a dynamic living environment with mix of urban conveniences, and suburban comforts and tranquility. The local economy is well-diversified, with economic anchors such as the State Government (4,000 employees); Higher Education – University of Toledo (6,700 employees), Bowling Green State University (6,000 employees); Industry – Whirlpool Corporation (6,200 employees), FCA US (6,200 employees); and Healthcare – ProMedica (15,000 employees) and Mercy Health Partners (8,800 employees). Several national companies, such as Marathon Petroleum, Cooper Tire, General Motors, Owens Corning and The Andersons have offices Toledo. Additionally, there are over 30 higher education schools within a 60-mile radius, with 200,000 undergraduate and graduate students to support a talented workforce.