MCB Real Estate-Led Partnership Acquires 120-Unit Multifamily Community in Columbus, Ohio for $16.5M

MCB Real Estate, a privately-held commercial real estate investment management and development firm, in joint partnership with Abide Capital Group, has acquired Harlow on Main, a 120-unit Class ‘A’ multifamily community situated at 195 East Main Street in downtown Columbus, Ohio from Homestead Companies for $16.5 million. Newmark’s George Skaff and Carter Stephens represented the seller of this property which was more than 86 percent leased at the time of the transaction and WesBanco provided project financing.

Delivered in 2020, Harlow on Main is a Class A, mixed-use asset strategically located within walking distance of Columbus’ major employers, academic institutions, and cultural amenities. Purpose-built to meet demand from local medical staff, hospital workers, and recent graduates, the property comprises efficiently designed studio and one-bedroom units averaging 483 square feet. Residences feature nine-foot ceilings, oversized windows, quartz countertops, tile backsplashes, island kitchens, wood-style plank flooring, and premium lighting and plumbing fixtures, with select units offering private balconies. On-site amenities include a clubhouse with HDTVs, billiards, and a fireplace, a fully equipped fitness center, outdoor terrace with firepit and skyline views, secured package lockers, a dog park, and structured parking with storage and bike facilities. The ground floor includes approximately 7,000 square feet of retail space, currently partially leased to a café offering specialty coffee and fresh baked goods.

Harlow on Main is situated adjacent to the region’s largest employers including Abbott Laboratories, Huntington, Nationwide Children’s Hospital, and both the State of Ohio and Franklin County government offices. The Ohio State University, the country’s third-largest public university with more than 34,000 employees and a student population exceeding 61,000, is situated eight minutes away.

The Columbus metropolitan region added more than 30,000 new residents last year, with a 1.38 percent year-over-year growth rate that eclipses both the national average of one percent and the Midwest growth rate of 0.6 percent, according to information from The Columbus Partnership. Columbus grew faster than larger metropolitan areas including Denver, Seattle, and Washington, D.C., with more than 2.2 million people now residing in the area.

Harlow on Main marks the inaugural joint venture between MCB Real Estate and Abide Capital Group, led by Founder, Derrick Hawthorne and Managing Partner, Kyle Smith. Abide Capital Group focuses on the acquisition of quality workforce housing communities across the Midwest and Southeast United States.

“This joint venture represents a foundational step for Abide Capital Group. We’re proud to partner with MCB Real Estate on this first acquisition together and to help shape the future of downtown Columbus through thoughtful stewardship and community-oriented investment.” said Kyle Smith, Co-Founder of Abide. “We’re bringing institutional discipline, operational insight, and cross-sector experience, complementing MCB’s deep industry expertise and strong track record. Together, we’re well-positioned to deliver lasting value to both residents and investors.”

“Harlow on Main is an institutional-quality and best-in-class asset which aligned seamlessly with our portfolio standards,” stated P. David Bramble, MCB Real Estate’s Managing Partner and Co-founder. “Given the robust performance generated by the multifamily asset class, combined with the long-term metrics that demonstrate continued population growth and economic prosperity in greater Columbus metropolitan region, Harlow on Main represents a strategic investment for our co-GP platform and we are proud to support a promising new sponsor which brings an impressive institutional background.”

Over the past nine months, the firm has made strategic investments across major metropolitan statistical areas (MSAs), including Baltimore, Chicago, New York City, Los Angeles, and Washington, D.C. Looking ahead, MCB will continue to unlock value in high-growth markets by leveraging its strong balance sheet and institutional relationships to support co-general partners (Co-GPs) with reliable limited partner (LP) capital and disciplined asset management.

About Abide Capital Group

Abide Capital Group is a multifamily real estate investment manager, specializing in discerning investment strategies designed to secure risk-adjusted returns aligned with macroeconomic trends. With a strategic emphasis centered on the acquisition and development of rental housing, Abide aims to address the unmet needs of underserved communities, initially targeting the Midwest and Southeast U.S. markets. Learn more at www.abidecap.com.

About MCB Real Estate

Founded in 2007, MCB Real Estate is a community-centric, privately held national commercial real estate investment management and development firm headquartered in Baltimore, Maryland. MCB boasts a nationwide portfolio of $3 billion in assets under management totaling approximately 17 million square-feet with almost four million square-feet in its development pipeline. Property types include industrial, office, retail, mixed-use, multifamily, and healthcare. The firm offers a seamlessly integrated suite of commercial real estate investment services, including acquisitions, development, construction, asset management, property management, leasing, marketing, financing, and legal expertise, thus ensuring comprehensive support throughout every stage of an asset’s lifecycle. Learn more at www.mcbrealestate.com.