Sold
Park Madison
56 Units
614 Park Madison Drive
Greenwood, IN  46142
Type:  Multifamily
Closed: 1/31/2017
Sold
Ashton Park
38 Units
2917 E. 47th Street
Indianapolis, IN  46205
Type:  Multifamily
Closed: 1/27/2017
Sold
CityView on Meridian
166 Units
3801 N. Meridian Street
Indianapolis, IN  46208
Type:  Multifamily
Closed: 1/27/2017
Sold
Island Club
314 Units
7938 Island Club Drive
Indianapolis, IN  46214
Type:  Multifamily
Closed: 1/10/2017
Sold
Cross Creek
208 Units
5756 Cross Creek Drive
Indianapolis, IN  46254
Closed: 1/9/2017
Sold
Mariners Village
244 Units
7135 Islander Drive
Indianapolis, IN  46214
Type:  Multifamily
Closed: 12/30/2016
Sold
Estates at Eagles Pointe
574 Units
2002 Shaw Avenue
Peru, IN  46970
Closed: 11/30/2016

Garden Pointe Apartments was originally built in 1973. The property received a very substantial renovation in 1992. At that time all windows, patio door and roofs were replaced. All units were fully upgraded in 1992 as well. The 1992 renovation included creating open concept kitchen layouts, adding washer / dryer connections to 50% of units (all second-floor units), new cabinetry, appliances, light fixtures and flooring. The current owner purchased Garden Pointe from a “distressed owner” in cooperation with their lender (since their loan was in default). At the time of their purchase the property has substantial physical need. The current owner has spent over $1.7M in the past year completing property renovations to bring all units back on line. One of the fourteen buildings (Building M) was down and has now been completely renovated. All 32 units in building M are now branded the LUX style and have high-end finishes that include quartz countertops, new wood cabinets, black appliances, nickel light and plumbing fixtures, paneled doors, vinyl plank flooring and a new trim package. These 32 units also received new HVAC systems, windows and patio doors.

In addition to the 32 LUX units, there are 12 units throughout the property that were previously down and now have all new interior unit finishes.

The acquisition of Garden Pointe Apartments offers a new owner the opportunity to continue to upgrade units and achieve rent premiums. Current rents trail the market by $25 - $105. The large clubhouse and expansive grounds allow for enhancements to the amenities in addition to upgrading the units.

Garden Pointe is being offered free and clear for an attractive price of $17,000,000 / $55,920 per unit.

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Hunters Run
304 Units
5005 Lily Lane
Indianapolis, IN  46254
Type:  Multifamily
Closed: 11/10/2016
Sold
Brookwood
404 Units
5301 Turtle Creek South Drive
Indianapolis, IN  46227
Type:  Multifamily
Closed: 10/19/2016
Sold
Trails at Lakeside
208 Units
3836 Arbor Green Lane
Indianapolis, IN  46220
Closed: 9/8/2016
Sold
Bristol, The
211 Units
7705 Harborside Dr.
Camby, IN  46113
Type:  Multifamily
Closed: 7/20/2016
Sold
Barrington Estates
144 Units
8717 W. Old Town Drive
Indianapolis, IN  46260
Closed: 7/15/2016
Sold
Eastway Court
286 Units
3 Manor Dr.
Greenfield, IN  46140
Type:  Multifamily
Closed: 7/1/2016
Sold
10 West
456 Units
7855 Cimarron Trail
Indianapolis, IN  46214
Type:  Multifamily
Closed: 6/20/2016
Sold
Arlington Terrace
82 Units
5931 E.12th Street Apt. A-1
Indianapolis, IN  46219
Type:  Multifamily
Closed: 5/27/2016
Sold
Madison Village
206 Units
1819 Madison Village Dr
Indianapolis, IN  46227
Type:  Multifamily
Closed: 5/24/2016
Sold
Meadowlawn
122 Units
1930 S. Goyer Road
Kokomo, IN  46902
Type:  Multifamily
Closed: 5/18/2016
Sold
Winchester Village
96 Units
8020 Madison Avenue
Indianapolis, IN  46227
Closed: 5/17/2016
Sold
Woods of Castleton
260 Units
8281 Clearvista Parkway
Indianapolis, IN  46256
Type:  Multifamily
Closed: 5/11/2016
Sold
Beechmill
256 Units
8580 Beechmill Lane
Indianapolis, IN  46227
Type:  Multifamily
Closed: 5/6/2016
Sold
Aspen Chase at Eagle Creek
130 Units
5340 Acorn Lane
Indianapolis, IN  46254
Closed: 4/12/2016

Cumberland Pointe is a premier, Class A, apartment community located in Indiana’s most vibrant market. Hamilton County is among the country’s fastest growing and wealthiest areas and offers residents an exceptionally high quality of life.

The property’s specific location within that market is also excellent, situated just east of high-traffic State Road 37 at its convergence with two other well-travelled thoroughfares. The community is within minutes of the area’s finest cultural, entertainment and shopping destinations and numerous major employment centers. The bustling north side of Indianapolis is just 20 minutes to the south.

This amenity-rich, luxury 336-unit apartment community presents the rare opportunity for investors to acquire a core-quality asset coupled with a real and readily achievable opportunity to significantly enhance existing revenue through the relatively modest upgrade of units in the original Phase I to the newer finishes included in Phase II.

The property was developed in two phases, completed in 2008 and 2014, respectively. Phase I consists of 208 units and Phase II consists of 128 units. All but two Phase II floor plans are identical to those in Phase I; however, Phase II units have newer, higher-end interior finishes compared to Phase I. Those upgrades include granite countertops, stainless steel appliances and upgraded plumbing fixtures.

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Cumberland Pointe
336 Units
15800 Navigation Way
Noblesville, IN  46060
Type:  Multifamily
Closed: 3/15/2016
Pinewood Village is located on the north side of 10th Street just one mile east of I-465 in Speedway, Indiana. an incorporated town within the city of Indianapolis. Speedway, is only a five minute drive from the Indianapolis downtown CBD and its many cultural, recreational, shopping and dining options, as well as the downtown campus of Indiana University – Purdue University Indianapolis (IUPUI), a major university with over 30,000 students.
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Pinewood Village
81 Units
5400 W. 10th Street
Indianapolis, IN  46224
Closed: 2/29/2016
Carriage House is a 230-unit apartment community located in Elkhart, Indiana, in north central Indiana, 20 miles east of South Bend. Constructed by respected developer, Gene B. Glick Company in 1970, the property consists of 22 buildings including the clubhouse and maintenance shop, situated on 19.65 acres. The community offers 136 HUD Section 8 HAP units, assuring high occupancy at attractive rental rates. Carriage House offers an attractive unit mix of one and two bedroom garden style units and two and three bedroom townhomes. All buildings are of classic Colonial architecture with attractive, brick exteriors and pitched roofs with composite shingles.
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Carriage House - Elkhart
230 Units
1200 Burr Oak Ct
Elkhart, IN  46517
Type:  Multifamily
Closed: 2/24/2016