Cuyahoga Falls investor buys 4 Toledo properties

The Toledo Blade today reported that four local apartment complexes have been purchased by a Cuyahoga Falls real estate investor who plans to spend $4 million on improvements.

The article cites Lucas County Auditor's office records which show that Daniel E. Karam and his Karam Managed Properties purchased Miracle Manor, Sunny Dale Estates, Abbey Run and Hunter's Ridge earlier this month.

Toledoans may recall that Miracle Manor, at Laskey and Jackman roads, has been the site of two major fires in the past three years.

Karam stated to the Blade that he spent $19 million to acquire the complexes. The purchase adds nearly 1,000 individual units to his real estate portfolio, which includes 5,000 other units in Ohio, Michigan and Pennsylvania.