Coldwater Flats can be purchased with:

Hermitage (280 units) More Information

Lawrence Landing (354 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

Located in Hamilton County and the City of Westfield, the Cottages at Sanders Glen residents benefit from one of the best locations in the state. Westfield is home to a host exciting new developments and boasts the highest population growth in the state with 7.7% in 2021 and 65.5% since 2010.

Walkable Suburban Asset

Single Family Feel

Private driveways, attached garages and individual entrances give the property a single family residential feeling.

Stunning High-End Finishes

Cottages at Sanders Glen is a brand new asset with luxurious high-end design and architecture. Beautiful features include vaulted ceilings, bright and airy open floorplans, breakfast bar seating and ample granite countertop space.

5.8% Trailing Cap Rate with Upside

The property offers immediate cash flow selling at a 5.8% T-3 Cap Rate. A new owner could reduce loss to lease, increase rents on turnover and achieve projected occupancy by upgrading all units and adding amenities.

Stable, Long-term Operations

Self-managing, long-term owners bring a wealth of property knowledge. The 35% increase on the last 3 leases, 18% average increase on lease trade-out (new leases), renewal rate of 65%, and consistently high occupancy are a result of stable, long-term operations.

Townhome Property w/ Popular Features

All units are either 2- or 3-bedroom spacious townhomes, averaging over 1,200 square feet. Private entries, enclosed patios, full size washer/dryer connections in all units, dining room, and large closets are some of the popular features. A daycare facility is connected to the clubhouse for resident use at a reduced rate.

Convenient Access to Vast Employment

The property is adjacent to Finish Line's HQ, and a large employment cluster. Other significant employers nearby are Emmett J. Bean Federal Center (4,800+ employees), Community Hospital North, Adidas Group, Amazon, and Walmart Distribution. I-70 and I-465 are both less than three miles away, providing direct access to the downtown CBD and all areas of the city.

Resurgence of Indianapolis' East Side

Next to fast-growing Hancock County, the East side is showing upward trends in several indicators including occupancy and rent growth. Its substantial job base and strong regional economy are both growing faster than jobs nationwide. Industrial development is booming with 9.5 million SF under construction in the submarket.

Purchase Individually or as a Portfolio

Country Lake can be purchased together with Fountainview and Lake Marina as a portfolio of 628 total units, creating economies of scale. The properties can also be purchased individually.

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.

Creekside South is being offered for sale for the first time ever by the original owner/developer. The property is very well maintained, and substantial capital improvements have been made by the current owner including new roofs, HVAC systems, balconies and more. While well cared for and maintained, Creekside South offers largely original interior finishes. The property is a blank slate in terms of upgrade potential. With ample interior common area space in the clubhouse and open green space throughout the property, additional amenities can easily be added. Current rents at Creekside South trail the surrounding competition by as much as $300 per month. In addition to raising rents and upgrading units, other income can be grown by increasing the water/sewer recovery and providing washer/dryer machines to residents.

Located directly on Stop 11 Road on Indy’s Southside, Creekside South benefits from excellent visibility and ample drive-by traffic. In 2020, the Indianapolis south submarket maintained 95%+ average occupancy and rents grew by 4.7%. Residents of Creekside South enjoy easy access to downtown Indianapolis, Greenwood and plentiful nearby employment.

Creekside South has a long history of maintaining mid 90%'s occupancy. Rental revenue has grown by more than 5% in T-12 vs 2019. The property is being offered for sale on a free and clear basis and will qualify for the most attractive new debt.

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 acquisition of Cross Creek provides investors with the rare opportunity to acquire 1990 built property with 6% cap rate year one WITHOUT additional renovations. Offered free and clear and primed for the best new debt terms available such as interest only and high leverage which will allows for an immediate double-digit yield.

The current owner skillfully renovated 100% of the units in 2016 with installation of new kitchen and bath cabinets, countertops, appliances, lighting and plumbing fixtures. The clubhouse was also upgraded in 2016 and provides a high end, open and modern atmosphere ideal for leasing.

Cross Creek arrives to market with over 96% trailing 3 months average occupancy and T-12 occupancy of 94%. In addition to strong occupancy, the property has achieved 4.6% organic rental income growth T-3 vs T-12. Recent leases prove the ability to quickly increase revenue easily by simply burning off the $61k annualized Loss to Lease.

Cross Creek is offered free and clear and can be purchased individually or as part of a 914 unit, 3 property portfolio that includes Beechmill (256 units) and Woodbridge – Ft Wayne (450 units). A portfolio purchase offers economies of scale.

Download an Executive Summary below. Full Offering Memorandum is coming soon.

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.

Constructed in two phases in 1995 and 1996, Deer Creeke is a 170-unit apartment community in Elkhart, Indiana, in north central Indiana, just 20 miles east of South Bend. The community consists of fourteen residential buildings and a clubhouse situated on 16.54 acres. Deer Creeke has an attractive unit mix of one and two bedroom garden style units and three bedroom townhomes.Buildings have brick and vinyl exteriors and pitched roofs with composite shingles.

Units feature washer/dryer hookups (in every unit), private patios and balconies, nicely equipped kitchens with dishwashers and garbage disposals, generous closet space, and available exterior storage. Community amenities include a swimming pool with sundeck, a clubhouse with community room and kitchen, playground, basketball court, a central laundry facility and on-site daycare. The space currently used for daycare could easily be converted to a fitness center and/or business center.

The acquisition of Deercross provides investors with the rare opportunity to acquire 372 units at a 6%+ trailing cap rate and the proven ability to increase rent with light unit upgrades.. Deercross is being sold subject to the assumption of the existing Fannie Mae loan and therefore will not require upfront escrows and has interest only payments until June of 2025.

51 units at Deercross have been lightly renovated and have achieved $60+/- premiums. The new owner has the ability to continue to renovate units and grow revenue.

Deercross is located on the west side of Indianapolis and offers very convenient access to some of the city’s largest employers. Located directly on 38th street, a major east/ west thoroughfare with an average daily traffic count of 45,000, Deercross maintains extremely high leasing traffic.

808-UNIT PORTFOLIO

Devonshire Gardens (139 units) and Devonshire Place (106 units) must be purchased together. They can also be purchased with Harrison Point (342 units) and Aura (125 units) in Indianapolis, and Tuscany Bay (96 units) in Lawrenceburg for a total portfolio of 808 units, offering instant economies of scale.

WELL MAINTAINED PROPERTIES WITH DESIRABLE FEATURES

The majority of windows and patio doors were replaced from 2012-2015 at both properties. The exteriors are mostly brick and have mature landscaping with a neighborhood feel. Both properties have very desirable, large townhome units.

VALUE-ADD OPPORTUNITY

A total of 100 units have already been upgraded and are achieving premiums of $70-$100+. Upgrading the remaining 145 units, as well as building exteriors would achieve additional revenue. Average rents are also below competing properties.

EXCELLENT LOCATION

Both properties are close together and are walkable to adjacent grocery stores and abundant retail on Green River Road. Deaconness Gateway Hospital and Ascension St. Vincent Evansville Hospital are a short drive. Interstate 69 is just two miles south of the properties.

Echo Park Bloomington is a premier luxury community located on the south side of booming Bloomington, IN. The thoughtful high-end modern design of this class A new construction property creates a living environment above all other competition. The luxurious living experience caters perfectly to the high income young professional residents.

Bloomington is best known for the highly-rated, 45,000+ enrollment Indiana University, but this city has more to offer than just the typical college town in the way of high paying employment opportunities, international cuisine, music venues, retail boutiques, lakes, wineries and the Hoosier National Forest.

Echo Park is currently 97% occupied and has an excellent lease trajectory into the future. Its stabilization and high occupancy allow for the best permanent new financing terms available.

Echo Ridge is a 2002 built property located in a desirable infill location that benefits from limited nearby competition. While well maintained, the property has largely original finishes and amenities and offers the ability to increase revenue with untapped renovation opportunities. The existing unit layouts and features can be easily enhanced and result in premiums of more than $75 / month. With 9-foot ceilings on the first floor and vaulted ceiling on second floor, each floorplan offers spacious living areas.

Located in Franklin Township on the southeast side of Indianapolis, Echo Ridge enjoys exceptionally easy and convenient access to downtown Indianapolis, local restaurants, employment and medical facilities.

Echo Ridge offers very attractive assumable Fannie Mae debt already in place. Debt terms include a low 4.43% interest rate, interest only payments until November of 2022 and loan maturity not until October of 2032.

Echo Ridge can be purchased individually or as part of a 600 unit, 3 property portfolio to include Pheasant Run – 184 units and English Village 208 units.

All three properties are located on the southeast side of Indianapolis, and a portfolio purchases offers economies of scale.

Eclipse can be purchased with:

Lenox (200 units) More Information

Connect (336 units) More Information

View at 79th (148 units) More Information