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St. Charles Court Apartments

The Canton, Ohio market continues to experience economic growth from the Utica Shale activity.  Major energy firms have become active in the region and existing industrial and manufacturing firms have benefitted with new and increased demand for their services and products.  DBC Real Estate Management experienced strong success with its acquisition in 2012 and 2013 of two other apartment properties in Canton totaling almost 150 units and identified the 96-unit property known as St. Charles Court, located only a few miles away, as a good addition to its Canton portfolio in 2014.

St. Charles Court is well located on the northern edge of downtown Canton with the opportunity to maintain a quality setting for residents.  The property is a group of four Georgian-style buildings facing an interior landscaped courtyard or “quad”, as seen on many college campuses.  DBC’s evaluation indicated that the property was in good physical condition with the right renovations and upgrades having been done by a previous owner, but that property management was substandard.  DBC Real Estate Management was able to structure the acquisition on economically favorable terms with the plan to strengthen management and leasing with its own staff and procedures, including cross marketing of the property with DBC’s other two properties a short distance away.  To send an immediate positive message to the rental market of ownership’s commitment to the property, major landscaping of the grounds was completed shortly after purchase, with upgrades to the common areas planned shortly thereafter.  As the property gets repositioned in the market, DBC Real Estate Management continues to implement its management and leasing procedures to improve rents and strengthen the tenant base. 

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