The Essex, one of three apartment communities in the Grandview Collection, in Columbus, Ohio.

IDEAL Capital Group, a private real estate investment firm based in Clovis, has acquired The Grandview Collection, a newly constructed portfolio of three apartment communities of more than 330 units in Columbus, Ohio.

This is the first time IDEAL Capital Group has made an investment in the Midwest. 

The three properties are located in the Grandview Heights neighborhood near Ohio State University and the Wexner Medical Center, which is one of the largest employers in the area.  

According to a news release, the location’s strong demand drivers, stable population and rent growth made the portfolio an attractive place to start in the Midwest multifamily market. 

“The Grandview Collection gives us immediate scale in a premier submarket with institutional-quality assets. We’re excited to bring our operating platform to Columbus and believe this is the beginning of a meaningful presence in the Midwest,” said Kevin Conway, managing director of IDEAL Capital Group.

The firm has been looking at Midwest multifamily fundamentals for several years, with the release noting that the region has shown consistent demand and stability compared with some of the other higher-growth regions in the Sun Belt.

This acquisition expands IDEAL’s geographic footprint to nine states as the company continues to look for institutional-quality multifamily investments in markets with strong employment centers and limited housing supply. 

In addition to California, IDEAL’s portfolio includes properties in Nevada, Oregon, Arizona, Utah, Colorado, Texas, Kentucky and now Ohio.