Press Release

FOR IMMEDIATE RELEASE

PRESS RELEASE: Ripe Alternatives Closes on Multifamily Property in Centerville, Ohio

CENTERVILLE, OH, May 29, 2026 – Ripe Alternatives, a real estate investment firm out of Denver, Colorado, has acquired Chesapeake Landing, a 256-unit apartment community located at 1551 Causeway Dr. in Centerville, Ohio. The firm’s 8th fund closed on the property on Thursday, May 28, 2026.

Built in 1986 and situated in the highly desirable and affluent Centerville submarket of Dayton, Chesapeake Landing offers 209,936 square feet of net rentable area across units averaging 820 square feet. The community is currently 97% occupied, with an average rent of $1,141 per unit ($1.39 per square foot). The property sits just minutes from the area’s top retail, dining, and entertainment destinations, including Whole Foods, Sam’s Club, and J. Alexander’s, and is positioned adjacent to I-675 for excellent access to major regional employment hubs, including several leading medical centers.

Chesapeake Landing is located within the highly acclaimed Centerville City School District and benefits from a strong tenant base with average household incomes exceeding $112,000. The asset is well maintained and offers significant, proven upside potential, presenting an opportunity to achieve value-add returns without the burden of costly deferred maintenance. The acquisition aligns with Ripe Alternatives’ strategy of identifying defensive Midwest assets with strong fundamentals and clear paths to revenue growth.

Ripe Alternatives takes a hands-on approach to oversight and property management. Greg Picone, CFA and managing partner, leads the firm’s investment strategy and asset management, while Tim Ulibarri, CPA and CFO, oversees financial reporting for the fund. The firm emphasizes transparency, excellence, and integrity in its work on behalf of investors.