Posted February 18, 201411 yr One heck of a flip by local investors and Al Neyer. They sold the building, occupied by Christ, for 22 Million or about $144 a sq. ft. Albert Smitherman is shaking up the local commercial real estate investment business – testing the power of grass-roots community influence to create wealth. He helped organize a group of 43 investors – many of them black, female, middle-income or complete novices to real estate investing – to participate in a deal that led to a $22.5 million sale of a building now largely occupied by Christ Hospital. The unlikely investors won’t say how much they earned as a result, but Smitherman said at least one person was able to significantly accelerate retirement plans. “We gave many people the opportunity to invest and feel commercial real estate and how it can truly build wealth,” said Smitherman, chief executive of Walnut Hills-based Jostin Construction. “We wanted to make it so people in the deal came from all different walks of life.” http://news.cincinnati.com/article/20140218/BIZ/302180020/Unlikely-investors-succeed-real-estate-deal
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