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.

5.31.2013

Orchard Apartments are NOW Available!

Check out this new repositioning opportunity on Indianapolis' northeast side: Orchard Apartments


Investment Highlights:

Popular North Side Location: The community is located on Indianapolis’ popular north side. Occupancy in the immediate northeast side submarket has been above 93% for the last three years.

Priced Well below Recent Sales of Comparable Properties in Same Neighborhood:
At the asking price of $30,400 per unit, Orchard is offered at significantly less than the recent actual sale prices of three properties located within one mile of Orchard.

Exceptionally Convenient Access to Multiple Interstates: The property is located less than one mile southeast of the 56th Street interchange with Interstate-465 (Indianapolis’ interstate beltway). From I-465, four interstates are accessible within a five to ten minute drive.

Near Many Shopping and Employment Centers: Much of the city’s finest shopping and dining is within five minutes of Orchard, including two major Simon malls with high end retailers like Nordstrom’s, Sak’s and Crate and Barrel. In addition, several major employers and business parks are within three miles of the property. The downtown CBD is just a fifteen minute drive using I-465 and I-70.

Improving Occupancy - Currently Leased to 98%: Occupancy has trended up over the last five months. Current leased occupancy is now 98%.

Potential to Add Value through Rental Increases and Water/Sewer Bill-backs:   The current owner recently implemented a revenue management program offering the potential to increase revenue through the continuation of rental increases. In addition, the potential exists to add income through implementation of bill-backs of water and sewer expense.

Repositioning Opportunity: Modest unit upgrades on turns (such as new appliances, brushed nickel light and plumbing fixtures, new cabinet hardware, and simulated wood flooring) should result in stabilized high occupancy and increased rent at Orchard.

Attractive Property with Full Amenity Package: Orchard is well landscaped and includes four spring-fed lakes. Property amenities include a community center/office, swimming pool, fitness center, business center, tennis courts, on-site laundry facilities, extra storage and available covered parking.

5.28.2013

New Luxury Apartment Community Available - Suburban Indianapolis

Bluestone Apartments in Greenfield, Indiana is NOW available on our website



Bluestone Apartments is a new 208-unit Class “A” luxury apartment community situated on more than twenty-one acres in the city of Greenfield, Indiana, just east of Indianapolis. Construction of Bluestone was completed in 2009 and the community now has occupancy near 100%.

Bluestone is the newest market rate apartment community in Greenfield and, simply stated, is clearly the “Best in Market”.

The community offers a full amenity package befitting its status as a first class community. The impressive and well-decorated clubhouse includes a state-of-the-art fitness center, cyber café with Wi-Fi, a business center, a theater/Wii lounge with big screen television, and a well-appointed community room with fireplace for resident special occasions. Other community amenities include a swimming pool with sundeck, a gated pet park and two scenic lakes with fountains. Many units offer water views. The property has been professionally landscaped and has excellent curb appeal.
The community has thirteen distinct unit types (sixteen when garage options are included), providing choices to virtually any discriminating resident. One bedroom units (in five floor plans) range in size from 779 square feet to as much as 1,117 square feet, including a den. Two bedroom / two bath flats (in seven floor plans) run from 970 to 1,183 square feet. The community offers two bedroom townhomes at 1,105 square feet and three bedroom townhomes at 1,389 square feet, with or without attached garages. All townhomes have two and one-half baths. Every unit has a private entry, gourmet kitchen, washer/dryer hookups, nine-foot ceilings and private patios or balconies. Other unit amenities vary by floor plan and include kitchen pantries, walk-in closets and private storage closets. Select units have attached, direct access garages. Residents of units which do not include direct access garages may rent either attached or detached garages.

The Property: Best New Apartment in its Market
  • High Quality Construction 
  • Best in Market Floor Plans and Unit Interiors
  • Outstanding Community Amenities
  • Professionally Landscaped with Many Flowering Trees
  • Very High Occupancy at Market Rents

The Location: High-End Professional Employment within 3 miles: Covance, Elanco, Keihen & More
  • In Growing Greenfield - Population Has Increased by 42% since 2000
  • Hancock County was Indiana’s Third Fastest Growing County Between 2000 and 2010
  • Projected Population Growth of over 30% between now and 2030
  • Greenfield Planning Downtown Revitalization
  • Convenient Location Within Greenfield
The Market: Economically Strong and Culturally Vibrant Indianapolis
  • Twenty-five Minutes from Indianapolis Downtown
  • America’s 12th Largest City
  • One of the Midwest’s Strongest Economies
  • Exceptional Cultural and Entertainment Attractions

5.06.2013

Knobs Pointe NOW Available

Learn more about this multifamily and retail opportunity in a strong suburb of Louisville, KY - here



  • Major Rehab in 2011 / 2012: The current owner has expended over $3.4 Million for capital improvements in an extensive rehab of the community. Significant projects include installation of a brand new pool and sundeck, major electrical upgrades, balcony replacements, asphalt resurfacing, replacement of four roofs, and renovation of approximately fifty down units.
  • Outstanding Opportunities to Add Value: Residential rents have been increased several times as property improvements have been completed. Additional value can be created through continuing to upgrade unit interiors. In addition, over 12,000 square feet of commercial space is still available for lease. The seller only recently began seriously marketing of this space, having previously focused on the rehab.
  • In Strong Apartment Market: New Albany, Indiana is located directly across the Ohio River from the city of Louisville. Greater Louisville is a strong apartment market in terms of both rents and occupancies.
  • Increasing Occupancy: Occupancy has steadily climbed since the seller’s acquisition and has averaged 91.3% for the trailing three months through March 2013.
  • Convenient to Downtown Louisville and the Ohio Riverfront: Vibrant downtown Louisville and its many shopping, dining and entertainment options and employment centers are just a fifteen minute drive from the property.

5.01.2013

Indiana Apartment Portfolio - 698 Units NOW Available


Take advantage of this rare opportunity to acquire four properties totaling 698 units located throughout Indiana. The properties may be purchased separately or as a portfolio. Each property has unique strengths and opportunities for additional value creation. All four of the properties are well located in robust rental markets. Offered free and clear of existing debt.

Offer Deadline is June 7, 2013.

Properties:
Avery Park: 176 Units in Kokomo, IN
Beech Grove: 182 Units in Jeffersonville, IN
Creek Bay: 208 Units in Indianapolis, IN
Regency Park: 132 Units in Mishawaka, IN