The developer of the Arena District has gained a significant partner in the redevelopment of the industrial core of Grandview Heights.
Nationwide Realty Investors Ltd. said Capitol Square Ltd., the real estate investment arm of the Dispatch Printing Co., will take a 20 percent stake in Grandview Yard, the $600 million-plus commercial and residential complex slated for more than 80 acres between Goodale Boulevard and West Third Avenue.
Capitol Square also plans to increase its stake in the Arena District from 10 percent to 20 percent. About $750 million has been invested in the area surrounding Nationwide Arena during the last 10 years.
Financial terms of the deal were not disclosed.
“We are thrilled to be expanding this highly successful partnership,” Nationwide Realty President Brian Ellis said in a news release. “Capitol Square has been a great partner in the Arena District and we look forward to carrying that strong relationship to Grandview Yard.”
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