October 24, 2013
Metro West, central Ohio’s largest apartment complex, attracted a bid of $17.4 million in an auction yesterday.
The 1,675-unit complex, on the west side of Georgesville Road south of W. Broad Street, is being sold by Matrix Realty Group of New York, which has owned the property since 2006.
In an online auction conducted by Auction.com, bidding began at $5 million and ended shortly after 2:30 p.m. with a high bid of $17.4 million.
A new owner will not be identified until the sale closes, which is expected in about 30 days.
Metro West, which opened in 1965 as Lincoln Village, is about 28 percent occupied, and many buildings are in need of repair.