Lake Castleton, located on the affluent and popular far north side, is one of Indianapolis’ landmark apartment communities. At 1,261 units, Lake Castleton is the city’s second-largest apartment property.

The current owner has spent more than $10M on property upgrades and updates. 731 units have been upgraded with new cabinetry, countertops, appliances, flooring, light fixtures and plumbing fixtures. Washer and dryers have been added to upgraded units. $155 monthly premiums, on average, have been achieved on unit upgrades and the new owner has the opportunity to continue upgrades on the remaining 530 units.

For access to confidential documents, please register at: LakeCastleton-CW.com

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of The Whit, a 334-unit, 2019-built apartment community located in the heart of vibrant and growing downtown Indianapolis.

Acquisition of The Whit represents an opportunity to own what is arguably the best property in the best location in the city. The property offers everything downtown high-income dwellers are looking for - from one of the most luxurious and comprehensive amenity sets to the high-end unit finishes and beautiful city views. Included in the sale of The Whit is an attached 540 space parking garage.

For access to confidential documents, please register at: CW-TheWhit.com

Located directly on Indy’s popular Canal Walk, a waterside promenade popular for walkers, runners, bikers and sightseers. White River State Park and its amenities are a short walk from the community along the Canal Walk.

In 2015, Canal Overlook was renovated with new windows, a fresh exterior paint scheme, unit upgrades and more. While well maintained, the new owner of Canal Overlook can continue property enhancements to further grow revenue.

Residents enjoy direct access to a private gated 158 space parking garage. Units offer high end finishes, amazing canal and downtown views and access to a full amenity set.

Downtown Indianapolis is vibrant, diverse and growing more each year. It offers some of the country’s best arts, culture, sports, music, events, entertainment and food.

Canal Overlook brings ‘Live-Work-Play’ to another level with award-winning employers within walking distance. The diversity of employers in the area (from tech to education and healthcare) offers a high level of stability in resident employment.

Downtown Indianapolis is continuing incredible growth and expansion. With new developments in all sectors from housing to hotels, entertainment and retail. Downtown is and will continue to be the top place in the city to live work & play.

2014-Built Property with Upside Potential

Aurum, built-in 2014, offers the potential to complete a light interior upgrade and increase rents by an average of $130+. Suggested upgrades include countertops, cabinet hardware, fixtures and new stainless steel appliances.

Near Notre Dame and Amenities

Aurum is located less than one mile from the Notre Dame Campus (12,809 students). Approximately 65% of the property’s residents are graduate students. Aurum offers quick access to nearby amenities with a bus stop near the entrance. Shopping, dining and entertainment are just a 0.25 mile walk or drive away.

100% Occupied with Below-Market Rents

Aurum is currently 100% occupied through Summer 2022. The rents are an average of $190 below competing properties. This asset offers an exceptional opportunity to increase rents during the next lease term.

Appealing Unit Layouts and Features

The units at Aurum feature well-designed layouts with spacious living areas, stackable or full size washer/dryer in each unit, walk-in closet and walk-in shower in sought after 2-bedroom floor plans.

Offered Free and Clear

The ability to purchase Aurum free and clear allows new owners to take advantage of current low rates, interest-only periods and maximum leverage which all increase buyer returns.

Coldwater Flats can be purchased with:

Hermitage (280 units) More Information

Lawrence Landing (354 units) More Information

Lawrence Landing can be purchased with:

Hermitage (280 units) More Information

Coldwater Flats (271 units) More Information

1 RENOVATED COMMUNITY - 6.8% YR1 CAP / 5.9% T-3 CAP

Lawrence Landing is available at a 5.9% Trailing 3 Cap Rate and a 6.8% Cap Rate on Year 1 (with no additional renovations). The community offers reliable cash flow and a strong return immediately and can be purchased free & clear. The current owner has spent more than $5M on property renovations.

The new owner can continue to burn off the Loss to Lease and has been proven by the most recent leases which are $186 higher than legacy leases. In 2020, revenue grew by more than 7% which was organic rent growth and not as a result of unit upgrades. Washer/Dryer connections can be added to the 108 one-bedroom units to achieve a $50+ monthly premium.

70% of units offer washer/dryer connections and are a spacious 2 Bedroom/ 1.5 Bath Floorplan. Amenities include a fitness center, business center with free wifi, sparkling saltwater pool and sand volleyball court. A large lake that runs through the middle of the community offers beautiful lake views.

Located directly on Shadeland Ave, a main north-south thoroughfare, Lawrence Landing offers residents easy access to ample nearby employment. The eastside of Indy has demonstrated high mid 90%s occupancy for many years and rental income growth of 25% since 2013.

Lawrence Landing can be purchased with Hermitage (280 units in Indianapolis, IN) and Coldwater Flats (271 units in Evansville, IN) for a total portfolio of 905 units, offering immediate presence and economies of scale. The properties may also be purchased individually.

2000's Built & Prime for Upgrades

Riverchase is a sought-after 2000's built asset with largely original finishes. This well-maintained property is primed to be upgraded, and by completing unit and common area upgrades, rents can be raised by $200+

Access to City's best Amenities

The westside location of Riverchase offers easy access to the interstate to be downtown, to the award-winning Indianapolis International Airport, the Indianapolis Speedway or Eagle Creek Park in minutes.

Near Abundant Employment

Riverchase is located on the west side of Indianapolis adjacent to Hendricks Co. The property offers a location that offers an abundance of high-wage employment as well as easy access to the northwest side and downtown employment corridors.

Unparalleled Unit Features

The unit features at Riverchase are unmatched in the market. 100% of the units have washer/dryer connections and fireplaces. Units also have abundant natural light, breakfast bar seating, a french door to the patio/balcony and top floor units feature vaulted ceilings.

Creekside at Meadowbrook is a sought-after 2000's built asset with largely original finishes. This well-maintained property is primed to be upgraded, and by completing unit and common area upgrades, rents can be raised by $200+.

The unit layouts at Creekside at Meadowbrook are unmatched in the market. Units also have abundant natural light, breakfast bar seating, spacious kitchens, en-suite bathrooms and open concept floorplans.

The property is located just one hour away from bustling Chicago. Creekside at Meadowbrook offers easy access to the amenities, entertainment and employment of Chicago without the expense or hassle of living in the city.

Nationally there is a migration toward the suburbs. Locally the town of Lowell is benefiting from a boom of new residents as people look to escape Chicago and migrate from northern Lake County (Merrillville) in favor of small town charms, taxes and environment.

Employment opportunities are plentiful in Lake County Indiana and the region. Creekside at Meadowbrook offers residents easy access to Chicago area & northern Lake county employment.

3Square is a new construction, first-of-its kind concept in Bloomington with high end modern finishes. This one-of-a-kind property offers only furnished studio units, each with a private bath, dry bar, and access to the property’s luxurious common amenities.

Comprehensive amenity package includes a fitness center, outdoor covered lounge with media, large commercial kitchens individual storage units, a performance stage, multiple sitting and study areas, covered parking, and free laundry for residents.

Fully leased, 3Square’s new concept has shown a proven demand in Bloomington. The current rent at the property is below market and can be increased by $200. Zoning changes in the area prohibit any new competition of this property type.

5 Demand for All Inclusive Package

Residents are drawn to 3Square not only for its ideal location, but for its all-inclusive rental package which includes a private, furnished studio apartment, laundry, all utilities, common kitchen cleaning, and access to all amenities.

The Bloomington campus has seen continued growth with a record number of students enrolled for 2021 and increase of 20% over Fall 2020 The Bloomington market has shown strong historical occupancy and rent growth.

Offered for sale by the original developer, Crooked Creek is very well maintained with little deferred maintenance. The property also maintains very low turnover with many longterm tenants. The average length of tenancy is 54 months.

Much of the heavy lifting in updating this property is already complete. The owner of Crooked Creek completed many property upgrades from new windows and unit updates to pool repairs and new siding.

Crooked Creek presents the opportunity to increase revenue through simple unit upgrades (with cabinets and counters already complete), adding some new amenities, and implementing a utility bill back program.

Crooked Creek is located near several large employment centers. Also from this location, residents enjoy easy access to vibrant downtown Indianapolis and plentiful dining, shopping and entertainment.

Crooked Creek offers unique and desirable unit features including fireplaces, unique loft floorplans, vaulted ceilings, in-unit washer/dryer machines and private inunit storage space.

Crooked Creek can be purchased with Cedar Ridge together as a portfolio of 384 total units creating some economies of scale. The properties can also be purchased individually.

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of Residences on 56th, a 755-unit apartment community that has undergone a full high-end renovation and repositioning in 2019 - 2021.

The property now offers high end finishes and a "like new" feel with the area’s best and most comprehensive amenity set. The new owner of Residences on 56th has the opportunity to purchase a fully renovated property and continue to grow rents organically as the property continues to achieve higher rents on new leases.

INVESTMENT HIGHLIGHTS

LANDMARK ASSET RESTORED

R56 was known for many years as the premier apartment community on Indy’s northside, and over the years the property declined. The current owner is currently finishing up a huge renovation to bring the property to pristine “like new” condition.

NEW CONSTRUCTION FEEL

Nearly $30M of capital has been infused into the property. The massive renovation includes exterior upgrades and 100% of units have received a high-end upgrade with all new finishes throughout giving the whole property a new construction feel.

RIDE THE POSITIVE MOMENTUM

With post-reno lease-up nearly complete, the new owner can achieve the second wave of rent increases since the community has repositioned to a high-end Class A property. Lease rents at R56 have increased by $100+ in just the past 90 days.

CONVENIENT NORTH INDY LOCATION

R56 is located immediately adjacent to I-465, providing excellent accessibility to anywhere in the city. Popular Fort Benjamin Harrison is nearby along with the Castleton and Broad Ripple areas offering plentiful employment and shopping and cuisine.

UNIQUE FEATURES & HIGH-END AMENITIES

R56 has the most unique units and the best amenities in the area. Not only competing with the nearby new construction but beating them on price, unit size, low-density community feel.

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of Villas by Watermark, a 266-unit, 2014-built apartment community located in very desirable Zionsville, IN, Indiana’s most affluent city. .

While extremely well maintained and offering a comprehensive amenity set, the acquisition Villas by Watermark presents a clear opportunity to complete light updates to achieve rent increases. The average income of the current resident is over $150,000 annually providing plenty of bandwidth to pay higher rents. Offers are due October 21st and the seller prefers a closing by the end of 2021.

For access to confidential documents, please register at: VillasByWatermark-CW.com

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of the Indiana Affordable Portfolio. This is a rare opportunity to acquire a 1,094-unit portfolio of 7 affordable properties in 7 cities throughout Indiana (including 358 units in Indianapolis).

For access to confidential documents, please register at: indiana7affordable-cw.com

View at 79th can be purchased with:

Eclipse (296 units) More Information

Lenox (200 units) More Information

Connect (336 units) More Information

Connect can be purchased with:

Eclipse (296 units) More Information

Lenox (200 units) More Information

View at 79th (148 units) More Information

Eclipse can be purchased with:

Lenox (200 units) More Information

Connect (336 units) More Information

View at 79th (148 units) More Information

Lenox can be purchased with:

Eclipse (296 units) More Information

Connect (336 units) More Information

View at 79th (148 units) More Information

1. Large Capital Infusion

Warren Harbor is a well maintained property that has been infused with capital but still allows for additional upside. All roofs have been replaced since 2016. Additionally, 135 units have been fully upgraded and most units have received some partial upgrades.

2. Grow Revenue Continuing Upgrades

105 units are either lightly upgraded or have classic finishes. By completing additional unit upgrades, a $160+ monthly premium can be achieved. 2021 lease rents demonstrate a $90 / 11% increase and prove the demand for upgraded units.

3. Recharged East Side Indianapolis

Indianapolis' far east side is showing upward trends in several indicators including occupancy and rent growth. The submarket also offers diverse/stable employers and easy access to downtown.

4 . Desirable unit features

Warren Harbor offers potential residents unit features like 3 bedrooms, upgraded finishes and W/D hookups that are uncommon in the submarket.

5 . Great Schools

Warren Central High School athletics is nationally recognized and sponsored by Adidas. They have 28 State Titles, 23 Semi-State Titles, and 87 Regional Titles.

The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of Pullman Pointe, a 190-unit, 2020-built apartment community located in the heart of vibrant and growing Fishers.

With the highest-end finishes and luxurious amenity set, Pullman Pointe offers a quiet atmosphere just minutes from the city’s best and most popular dining, retail and entertainment. Proving the property’s appeal and high demand for quality product in Fishers, the community reached 100% occupancy in only 6 months. The property provides reliable cash flow on day one. Cash flows and returns realized through the acquisitions of Pullman Pointe are further bolstered by the fact that the property received $7M in Economic Development Revenue Bonds from the city of Fishers, which significantly reduces the Real Estate Tax Liability for more than 20 years.

For access to confidential documents, please register at: PullmanPointe-CW.com

1. 5.4% TRAILING CAP RATE & 6%+ T-12 RENT GROWTH

Due to high demand, A/62 has maintained 95%+ occupancy for many years and has consistently grown revenue. Rental rates grew by more than 6% over the past year. This was organic growth and not as a result of unit upgrades. A/62 offers reliable cash flow day one and the whisper price represents a 5.4% Trailing 3 Cap Rate.

2. Clear Path to Unit/Amenity Upgrades & Rent Premiums

While well maintained, units have largely classic finishes allowing the new owner to execute a unit upgrade program.

3. Recent Capital Improvements Completed

Current owner has spent more than $2M and completed major capital improvements including roof and balcony replacement. New owner can now simply focus on revenue generating enhancement such as unit upgrades.

4. Sought After Northside Location - $94k Avg HHI

Located on the Northside of Indianapolis, the average household income is $94,000 in the 2 mile radius. A/62 Residents enjoy convenient access to some of the city’s best retail, restaurants and vast employment nearby.

5. Offered Free & Clear

The ability to purchase A/62 free and clear allows new owners to take advantage of current all-time low rates, interest only periods and maximum leverage which all increase buyer returns.

There is 9.5 million SF of industrial space under construction in the east submarket, representing 43% of the 22.2 million SF space under construction in the whole Indianapolis market.

Hancock Co, the eastern door to Indianapolis, has become a fast-growing economic powerhouse. The population has been growing rapidly as people discover the vibrant communities and great job opportunities.

Cedar Ridge presents the opportunity to increase revenue through simple unit upgrades, adding new amenities, and implementing a utility bill back program.

Offered for sale by the original developer, Cedar Ridge is very well maintained with no deferred maintenance. The property also maintains very low turnover with many longterm tenants. The average length of tenancy is 61 months.

Cedar Ridge offers unique and desirable unit features including fireplaces, unique loft floorplans, vaulted ceilings, in-unit washer/dryer machines and private in-unit storage space.

Cedar Ridge can be purchased with Crooked Creek together as a portfolio of 384 total units creating some economies of scale. The properties can also be purchased individually.

Hermitage can be purchased with:

Lawrence Landing (354 units) More Information

Coldwater Flats (271 units) More Information

1 RENOVATED COMMUNITY - 6.6% YR1 CAP / 5.4% T-3 CAP

Hermitage is available at a 5.4% Trailing 3 Cap Rate and a 6.6% Cap Rate on Year 1 (with no additional renovations). The community offers reliable cash flow and a strong return immediately and can be purchased free & clear.

While the property was originally built in 1971, the current owner has spent more than $3.9M on the property and has substantially renovated the property in the past 10 years giving the property a newer look and feel.

The new owner can continue to burn off the loss to lease. In Trailing 3 months, revenue grew by more than 7% which was organic rent growth and not as a result of unit upgrades. Leases signed in the past 90 days are on average $134 higher than the legacy lease rents.

Hermitage is located in Speedway, a popular city on the westside of Indianapolis, which offers quick easy access to Downtown Indy. Employment and entertainment options are plentiful on the westside and downtown and are very easy to access from the property.

Hermitage can be purchased with Coldwater Flats (271 units in Evansville, IN) and Lawrence Landing (354 units in Indianapolis, IN) for a total portfolio of 905 units, offering immediate presence and economies of scale. The properties can also be purchased individually.