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Aura, 125 units on Indy’s west side, is being offered for sale both individually or as part of a 3 property portfolio totaling 849 units. Portfolio buyers will have the opportunity to have an immediate sizable presence in Indy and benefit from economies of scale. However, the purchase of Aura as a stand-alone property is an excellent option and offers the ability to purchase a property with very spacious units. The average unit size at Aura is just over 1,200 square feet and offers a balanced mix of one, two and three bedroom units.

The current owner has renovated approximately 25% of units and proven rent premiums of up to $170/month. Located on the westside of Indy, Aura is very close to a large number of employers and offers quick access to downtown. Aura (and the entire portfolio) is being offered free and clear.

For more information on the other properties available in the portfolio, click below:

M Club Offering Memorandum

Retreat Northwest Offering Memorandum

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Aura
125 Units
3035 W. 39th Street
Indianapolis, IN  46228
Posted: 10/20/2020

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.

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Under Contract
Cross Creek
208 Units
5756 Cross Creek Drive
Indianapolis, IN  46254
Posted: 1/22/2020

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.

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Deercross
372 Units
7007 Deer Path Drive
Indianapolis, IN  46254
Type: Conventional
Posted: 6/15/2020

The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of Liberty Center, a 238-unit, 2016-built apartment community made up of two distinct buildings - The Grant and The Fillmore. Located in the heart of a landmark town center Liberty Center fuses luxury living, dynamic dining, best-in-class retail and engaging entertainment within an active and connected urban neighborhood.

The acquisition of Liberty Center Apartments (The Grant & The Fillmore) represents an opportunity to own in what is arguably one of the most vibrant mixed-use neighborhoods in the nation. The property offers everything high-income dwellers are looking for - from high-end unit finishes to an upscale restaurant and retail destination.



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



The Liberty Center Apartments attached Net Leased Liberty Center Retail is also being offered for sale as part of a separate offering. For more information about the Liberty Center Retail, visit the site: Here

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Liberty Center Apartments
Offers Due:  Friday, November 6, 2020
238 Units
7560 Blake St
Cincinnati, OH  45069
Type: Conventional
Posted: 9/24/2020

M Club Apartments, 388 units on Indy’s northeast side, is being offered for sale both individually or as part of a 3 property portfolio totaling 849 units. Portfolio buyers will have the opportunity to have an immediate sizable presence in Indy and benefit from economies of scale. However, the purchase of M Club as a stand-alone property is also an excellent option, with almost 400 units in one location. M Club offers a mix of studios, one bedroom and two bedroom units. The current owner has renovated approximately 20% units and proven rent premiums of up to $150 / month.

Located on the northeast side of Indy, M Club residents enjoy exceptionally easy access to Castleton, Fort Benjamin Harrison, and Downtown Indy is only 20 minutes away. M Club (and the entire portfolio) is being offered free and clear.

For more information on the other properties available in the portfolio, click below:

Retreat Northwest Offering Memorandum

Aura Offering Memorandum

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M Club
388 Units
7007 Courthouse Drive
Indianapolis, IN  46226
Posted: 10/20/2020

Madison Square Apartments is a 89-unit community located in Anderson, IN just northeast of Indianapolis. The property consists of 8 two and one-half story buildings containing 7 one-bedroom units, 77 two-bedroom units and 5 three-bedroom units. The buildings have a low maintenance brick exterior and were built in 1968.

Recent capital projects include new roofs and windows, new boilers, lift station replacement, main plumbing line replacement, hallway renovations and carpet replacement with wood-look vinyl in select units.

Madison Square currently has a mortgage with the Freddie Mac SBL program. With a strong existing balance, leverage is favorable and the property is not currently subject to additional Principle and Interest escrow requirements that Agency lenders are requiring on new debt.

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Under LOI
Madison Square
89 Units
1801 N. Madison Ave.
Anderson, IN  46011
Posted: 9/1/2020

Mariners Village is a 244-unit apartment community located on Indianapolis’ suburban west side just outside of Indianapolis’ interstate loop. The property sits on a tranquil 60-acre springfed lake which offers scenic views from the property’s pool, deck, and from a number of units. Built in 1978, the community consists of fourteen residential buildings and a clubhouse, situated on almost 16 acres.

Mariners Village offers a variety of unit types, including 40 studio units in two floor plans (20 with popular lofts); 102 one-bedroom units (34 with lofts), and 102 two-bedroom units (34 with lofts). Unit features vary by type but include generous floor plans, private patios or balconies, kitchen pantries and large closets.

Community amenities include the clubhouse with community room, fitness center and saunas; the swimming pool with a large deck overlooking the lake, a jogging/walking path, dog park, picnic areas, laundry facilities on the first and second floor of every hall, and available covered parking.

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Under Contract
Mariners Village
244 Units
7135 Islander Drive
Indianapolis, IN  46214
Type: Conventional
Posted: 3/23/2020

Notch at Norta is a brand new, Class A apartment community located in Indiana’s most vibrant market. The northside is among the country’s fastest-growing and wealthiest areas and offers residents an exceptionally high quality of life.

The community offers an attractive mix of studios, 1 and 2-bedroom units and all with a full-size washer/dryer. The units include high-end finishes such as quartz countertops, wood cabinets with high gage drawer pulls, a flat glass range top, a deep under-mount stainless-steel sink, energy-efficient appliances and vinyl plank flooring.

The amenities at Notch at Nora are equal to or exceed any of its peers. A beautiful clubhouse offers a 24-hour fitness center as well as the leasing and management office. Other amenities include direct access to The Monon trail, a sparkling swimming pool, a fire pit, a grilling station, and a 24-hour package room.

Notch at Nora’s specific location, just to the south of high-traffic 86th Street, gives excellent access to everything the northside and high-end Keystone area have to offer. The community is within minutes of the area’s finest entertainment and shopping and numerous major employment centers.

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Notch at Nora
186 Units
8502 Westfield Blvd
Indianapolis, IN  46240
Posted: 1/22/2020

Retreat Northwest Apartments, 336 units on Indy’s far north side, is being offered for sale both individually or part of a 3 property portfolio totaling 849 units. Portfolio buyers will have the opportunity to have an immediate sizable presence in Indy and benefit from economies of scale. However, the purchase of Retreat Northwest as a stand-alone property is also an excellent option. Built in 1973, Retreat Northwest has a very attractive unit mix with 21% one bedroom units, 32% two bedroom / two bath units, 42% two bedroom townhomes/lofts and 5% three bedroom units.

The current owner has renovated approximately 60 units and proven rent premiums of up to $170 / month. Retreat Northwest also has newer roofs , windows and patio doors replaced in 2013-2014. Located on Indy’s far north side, Retreat Northwest offers its residents access to excellent schools and is conveniently located near employment, retail and services. The property (and the entire portfolio) is being offered free and clear.

For more information on the other properties available in the portfolio, click below:

M Club Offering Memorandum

Aura Offering Memorandum

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Retreat Northwest
336 Units
1130 Racquet Club N. Drive
Indianapolis, IN  46260
Posted: 10/20/2020

Silvertree is a 892-bed | 332-unit portfolio of 7 properties built in 1984-19952 and located in Muncie, Indiana. This offering represents an opportunity to buy 7 nearby/adjacent properties with a large presence in the market, and it offers economies of scale at 6.3% T-12 (even with 83% occupancy) and 7.3% year one forecast cap rate.

The communities are situated close to each other and near the campus of Ball State University which has steady enrollment of approximately 22,000 and employs about 3,500 people.

All units have washer/dryers in the units. The properties offer an attractive unit mix with a variety of unit styles to fit any resident's needs. Some units were upgraded in 2010 and include high-end finishes such as granite countertops, new wood cabinets, energy-efficient appliances and vinyl plank flooring.

The amenities at Silvertree are centralized at the Silvetree location and include a clubhouse with a 24-hour fitness center as well as the leasing and management office. Other amenities include a sparkling swimming pool, sand volleyball court, basketball court and tanning bed.

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Silvertree Communities - Muncie
332 Units
2720 N Silvertree Lane
Muncie, IN  47304
Posted: 2/14/2020

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of Union Green, a 172-unit, 2019-built apartment community located in high growth and affluent Brownsburg, IN.

Union Green is a brand new, Class A mixed-use apartment community located in one of Indiana’s hottest and most affluent submarkets. Hendricks County is among the country’s fastest-growing and offers residents an exceptionally high quality of life. Union Green is part of a recent $80M+ development corridor in downtown Brownsburg including residential, office (+co-working) and retail in a newly minted walkable, urban setting. Amenities at Union Green are best in class, with no equal among the submarket competition.

Rush on Main (Chicago-Inspired Eatery) occupies the approximately 3,908sf of the +/-14,000sf of retail. With a high level of interest from the retail community, lease-up of the remaining space is imminent.

Click below for Virtual Tours:

Model

Prospect A

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Under LOI
Union Green
172 Units
SR 267
Brownsburg, IN  46112
Posted: 8/19/2020

The Wilshaw apartments are located in the heart of all the action. Within a few hundred yards from the Indianapolis Motor Speedway (IMS), the asset is situated along the newly revitalized Main Street among $70M+ in recent development. It is the only Class A, luxury apartment community in Speedway.

An urban, mixed-use design is comprised of a contemporary unit mix with one-bedroom (63) and two-bedrooms (27), catering to the resident looking for walkability and connectivity to Indianapolis’ CBD and surrounding areas - ideal for millennials and empty nesters with a heavy one bedroom concentration.

Less than five (5) miles from the CBD, the campus of IUPUI and other employment nodes such as 16 Tech (3 miles) make Wilshaw accessible to the highest paying jobs in the market. Allison Transmission (3,300 employees) is less than a mile away.

With the recent announcement of Penske taking over the IMS and Indy Car brand, expectations of new investment exceed $100M and incorporate a footprint throughout the town of Speedway. Continued investment in the submarket is reaching upwards of $200M and will likely continue as the concentration of efforts expands beyond Main Street.

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Wilshaw
90 Units
1525 N. Main St.
Indianapolis, IN  46224
Type: Conventional
Posted: 6/18/2020
Cushman & Wakefield, Inc., as exclusive advisor, is pleased to present The Villas On Fir, a brand new, best-in-class development with 290 residences in the heart Granger, Indiana. This unique opportunity allows new ownership to own a stabilized asset with powerful tenant and market demographics with an unmatched location in greater South Bend, Indiana. The area economy is not only powered by Notre Dame University but also by a health care and manufacturing scene that is one of the top in the nation. A professional, well-educated, renter dominated population fuels the demand for new, highly amenitized apartments in a market with record low vacancies, real rent growth and minimal new construction.

For access to confidential documents, please register at: villasonfir-cw.com
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Under Contract
The Villas on Fir
290 Units
6205 N Fir Rd
Granger, IN  46530
Posted: 6/16/2020