Vidale’s Company Invests $1.33M to Buy Apartments, Canfield Office Building
YOUNGSTOWN, Ohio — G.A.I Capital Group LLC completed three transactions earlier this month, buying low- and high-end apartment buildings in Boardman and an office building in Canfield.
G.A.I. was incorporated in May 2018 by Terrill Vidale, former city coordinator of downtown events and special projects. Vidale is the owner of 2Deep Entertainment, which moved its headquarters in 2017 from Boardman to 237 E. Front St. downtown.
At the time, the city authorized a $350,000 float loan for 2Deep Estates LLC to finance the purchase of the 5,820-square-foot structure known as the International Renaissance Building. The transaction was completed March 3, 2017; G.A.I. paid $360,000.
Vidale incorporated G.A.I. in May 2018 “to help fund up and coming businesses,” according to documents on file with the Ohio secretary of state.
On July 9, G.A.I paid $750,000 to buy high-end multi-family apartment buildings at 7456 and 7457 Huntington Drive in the Huntington Woods development in Boardman.
The units were sold by SAB Investments, an entity controlled by local developer James Sabatine Jr., which paid $500,475 in 2016 to buy the apartments.
G.A.I. closed two more transactions July 9; one for low-end apartment units, the other for a commercial building.
Vidale’s company paid $210,000 to buy apartment units at 71 Lemans Drive in Boardman from Canfield Properties LLC and Colonial Apartment Investments LLC. The family residences were built in 1971. Canfield Properties paid $570,000 to acquire them in 2005.
Also on July 9, G.A.I. paid $370,000 to acquire the office building at 23 Lisbon St. in Canfield.
In 2007, Canfield Properties paid $260,000 to buy the building. It was listed for sale in October for $479,000. The registered agent for Canfield Properties, incorporated in 2004, is Samuel G. Boak.
Pictured at top: Terrill Vidale poses for picture in April 2017, shortly after he purchased 237 E. Front St. in downtown Youngstown.
Copyright 2021 The Business Journal, Youngstown, Ohio.