Experts on the Indianpolis Apartment Market

Over 70 years of combined experience in the multihousing brokerage industry

60,000 Units Sold Throughout Indiana and Kentucky

Clients include local, regional and national private equity investors; public pension funds; and public and private REITs.

$2 Billion in Multihousing Sales

And the highest number of apartment transactions by any Indianapolis brokerage firm.

Annually Presents the Indiana Apartment "Industry Outlook"

An event hosted in conjuction with the Indiana Apartment Association.

12.11.2012

In the News: Pedcor to start second phase of Carmel's City Center

Check out today's IBJ talking about the second phase of Carmel's City Center. George gave some insightful information about the market in that area.

"The apartment market is red hot, and Carmel is no exception, said George Tikijian of apartment brokerage firm Tikijian Associates.
Tikijian said a pair of projects illustrate the demand. One One Six Apartments, a 191-unit development by J.C. Hart Co. at 116th Street and College Avenue, was fully leased six months after it opened in April. Sophia Square, a 202-unit Keystone Group project in the Carmel Arts & Design District, was 94-percent leased within nine months of its opening in May 2011.

Another project, the 193-unit Penn Circle at Old Meridian Street and Carmel Drive, started leasing in September and is seeing strong demand, Tikijian said. That project, developed by Milhaus Development, is leased and managed by Gene B. Glick Co.

Tikijian said the only cloud on the horizon for the apartment market in Hamilton County is the strengthening market for single-family homes. Apartment dwellers in places like Carmel and Fishers are more likely than their downtown Indianapolis counterparts to opt for home ownership, he said."


Visit our  website, and see our 2012 Apartment Market Overview for more information about new apartment development in the Indianapolis area.

11.13.2012

Foster Park is NOW Available

Foster Park
70 Units
Fort Wayne, IN

Here is a great new multifamily oppertunity in Fort Wayne, IN. 

Investment Highlights Include:
Desirable Senior Community with Low Turn Over: Foster Park is a senior community that has a historically experienced low turnover of residents which assists in keeping the operating expenses down. Average length of tenancy is approximately 4 years.

Stable Property with Current and Historical High Occupancy:
Foster Park is currently 97% occupied and has experienced historical occupancy of 90%+/- for several years.

High Cap Rate Offering with Upside Potential: 
The asking price of $2,500,000 represents an 8.8% forecast cap rate and an 8.4% actual cap rate. Current market rents at Foster Park are below the competing properties offering the potential for revenue increases.

Attractive Brick Exterior:  Low maintenance, masonry exteriors enhance the property’s appearance.
Gated and Covered Under Building Parking Garage Ideal for Seniors: Foster Park offers it’s resident gated and covered parking garage with elevator access directly into the building which is very appealing to senior residents.

Good Unit Mix with Large 2 Bedroom Floorplans: The property offers 38 one bedroom units and 32 two bedroom units. The two bedroom units are open and spacious with over 1,100 square feet. 

Located on the City’s Exercise and Recreation Trail:
Fort Wayne’s Rivergreenway; Foster Park is located immediately adjacent to the St. Marys Pathway. This trail part of Fort Wayne’s Rivergreenway, a linear park with 25 miles of trails designed to connect neighborhoods and parks along Fort Wayne’s three rivers. St, Mary’s Pathway is an 8.75 trail designed for walking, jogging, bicycling and rollerblading.

11.02.2012

In the news: Milhaus' 451 Market apartment development is under way Downtown

Here's another article quoting George's expertise. Read here:

Milhaus' 451 Market apartment development is under way Downtown

“The reality is..... we’ve never seen (so much new development) concentrated in a small market like Downtown before. Never had this many units at once,” said George Tikijian of Tikijian Associates apartment brokerage. “But Downtown is very popular. I do think they will be absorbed.”

11.01.2012

Greenfield Knoll NOW Available

Greenfield Knoll

80 Units
Greenfield, IN

There is a new property available on our website!
Take a look at this great new opportunity in Greenfield, IN. 
Investment Highlights include:
  • Opportunity to Reposition and Increase Value: The acquisition of Greenfield Knoll represents the opportunity to purchase a well located property and enhance value through strong management and property upgrades.
  • Vibrant Growing Market Location: The city of Greenfield grew by 26% between 2000 and 2010. Hancock County has further projected population growth above 20% over the next 15 years. Average occupancy for the city of Greenfield in 2012 was 92.6%
  • Favorable Unit Mix and Unit Amenities: Greenfield Knoll offers an attractive unit mix of 1 & 2 bedroom flats and 2 bedrooms townhomes with an average unit size of 985 square feet. All units have washer/dryer hookups, private patios or balconies and private storage closets.
     
  • Convenient Location Near Major Retail and Employment: Greenfield Knoll is located approximately 1 mile north of downtown Greenfield and only one half mile from State Road 9 where there is a high concentration of employment, retail and restaurants.
     
  • Freshly Painted Building Exteriors: Greenfield Knoll was recently painted in the fall of 2012 adding to the overall curb appeal of the property.
     
  • Owner Retiring: After 10+ years of ownership, the seller of Greenfield Knoll is retiring.

10.25.2012

2012 Indiana Industry Outlook Event

On Monday, October 15th 2012, we sponsored and presented our rent survey and market data at the annual Indiana Apartment Association's Industry Outlook.

George discussed our new market research data. He also spent time talking about some of the interesting new development and sales transactions that have taken place in the city of Indianapolis (and the State of Indiana) area over the last year. For additional details from the presentation and the Indianapolis multifamily market, visit the 'Market' page on our website.





10.23.2012

In the news: "Report: Apartment gains could cool in 2013"


Check out the today's IBJ. They have insightful quotes from George and discuss some data from our 2012 Indiana Apartment Market Brochure.

Click here to download this year's report or check out additional Indiana apartment market data.

10.16.2012

New Apartment Market Overview Available NOW!


Our new 2012 Indiana Apartment Market Overview is now available! This overview contains new rent survey data in addition to Indianapolis new apartment development, and an overview of 2012 sales transactions.

Visit our website for more apartment market information in Indiana and Kentucky.

1.03.2012

New Tikijian Associates Blog

This site is under construction.