TROY, Mich., June 19, 2007 (PRIME NEWSWIRE) -- The Hayman Company recently acquired a 270 unit upscale apartment property named Sturbridge Square Apartments in the Cleveland suburb of Westlake, Ohio.
Sturbridge Square Apartments was built in 1988 and has recently undergone major renovations throughout the property. Andrew Hayman, Executive Vice President of The Hayman Company, says, "The acquisition of Sturbridge Square Apartments is an exciting opportunity allowing us to buy an upscale property in the growing community of Westlake, Ohio. We will complete the renovations over the next year that was started by the previous owner. We feel that this will create substantial value to this asset over the long term."
Westlake, Ohio is strategically located in the Western suburbs of Cleveland and is considered one of Cleveland's most upscale communities. Recently, Westlake added the Crocker Park mixed-use development which has dramatically enhanced the area.
The Hayman Company is one of the nations largest privately owned real estate companies providing management, leasing, brokerage, advisory and real estate accounting services to institutional and private investors. In addition, The Hayman Company owns and manages apartments, offices and hotels throughout the United States. The Hayman Company was founded in 1965.