Pine Crossing Apartments 3691 Windward Way 192 Unit Apartment Building For Sale Columbus, OH 43204

Colliers is pleased to present Pine Crossing Apartments on behalf of receivership. Strategically
positioned with convenient access to major transportation corridors, including I-70 and I-270, Pine
Crossing offers seamless connectivity to Downtown Columbus, The Ohio State University, and major
employment hubs. Visibility is paramount to capturing potential renter demand, and Pine Crossing’s
frontage along Wilson Road will forever organically capture significant attention. Pine Crossing was
built in 1972 and consists of 192 total units. Its desirable unit mix and strategic location within the
reputable Hilliard School District creates a rare opportunity to acquire institutional-quality workforce
housing in the Columbus MSA.
Currently 75% occupied, new ownership has the immediate ability to renovate units efficiently and restabilize
the property to achieve significant rental premiums. The property consists of 8 3-story gardenstyle
buildings with ample green space for potential amenity enhancements. The property recently
completed it’s final year of it’s decontrol period and now operates as a 100% Market-Rate multifamily
property, unencumbered by any restrictive covenants. Unit mix at the property consists of 14% onebedrooms,
73% two-bedrooms, and 13% three-bedrooms. On-site amenities include a clubhouse, fitness
center, swimming pool, picnic area, community gardens and laundry facilities.
New ownership has the potential to benefit from the ensuing market-rate operations after the
expiration of the LURA in 2023, and exciting potential to capture significant renter demand. Robust
renter demand is driven by 52 million square feet of Industrial space within a 5-mile radius from the
property and its commutable highway access.
Hilliard is one of Columbus’ most exciting submarkets for economic development with premier
accessibility. The City of Hilliard is advancing several transformative economic development
initiatives, including the AWS Hilliard Campus, Logistix Hub, Hilliard City Lab, and Truepointe
that will deliver over 5 million square feet of high-tech manufacturing, new office space, and luxury
apartment buildings. Nearby, Ohio State’s new Wexner Medical Center Tower, Ohio Health’s
Riverside Women’s Health Hospital and Downtown Trauma Hospital, and Nationwide Children’s
Main Hospital Expansion will have meaningful impacts on high-quality workforce housing demand
drivers. Residents also enjoy close proximity to Raymond Memorial Golf Course, the Scioto River,
Quarry Trails Metro Park, and many more recreational destinations within a short commute.