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Development Team Announces Successful Sale of The Banks
CINCINNATI (WKRC) -- The Banks Development Team has announced Thursday that they sold a portion of Phase IA of The Banks mixed-use development.
Phase IA includes the multi-family apartments, Current at The Banks, and the ground floor retail below the apartments.
The new owner is NIC Riverbanks One, an affiliate of the Nicol Investment Company. They have a history of successful business including senior housing, office, retail, industrial, and self-storage properties.
Carter/Dawson and USAA Real Estate will continue to own the remaining portions of The Banks Phase I which includes two outparcels located south of the Freedom Center, and the Phase IB hotel and office sites.
In a press release from The Banks Development Team, Scott Stringer the executive vice president of Carter said, Given the tremendous success of Phase IA, Carter /Dawson, as the Banks Master Developer, is pleased to continue its public/private partnership with the City of Cincinnati and Hamilton County to further redevelop the riverfront into a premier retail, residential and entertainment gateway to Southwest Ohio.