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.

5.30.2014

Multifamily Investment Opportunity: Fort Wayne Apartment Portfolio

Here is a new opportunity to invest in the Fort Wayne, Indiana multifamily market. For more information or to download a full offering memorandum visit our website HERE.


The Fort Wayne Portfolio represents the opportunity to acquire three properties totaling 194 units. The three properties may be purchased individually or as a portfolio. The properties offer diversity in both location and product type. A diverse unit mix, including senior apartments, studios and town homes, allows for appeal to a wide range of potential residents. While the properties vary in terms of location and unit types, they have all maintained stable 90% +/- occupancy levels for many years. The portfolio asking price of $6,055,000 is an 8.7% cap rate on 2013 actual financials. Each of the three properties offers various areas of potential upside through either utility bill back to residents or property upgrades to achieve rent increases.

                        Offering Price    Units    Year Built
Foster Park        $2,480,000           70          1972
Hickory Mill        $1,600,000           70          1981
Stratford Place   $1,975,000          54          1962-1967

5.19.2014

Multifamily Investment Opportunity: Decatur Woods

Checkout this exciting new opportunity to invest in an Indianapolis multifamily asset. For more information or to download a full offering memorandum visit our website HERE.

Investment Highlights

Value–Add Opportunity: The property’s current rental rates allow for rent growth through upgrades of common areas and unit interiors. In addition, institution of a water/sewer billback is readily achievable.

Excellent Location Near Airport and Adjacent to Expanding AmeriPlex Industrial Park:  Decatur Woods is located very close to the Indianapolis International Airport and AmeriPlex, a growing business park which counts a number of the city’s larger employers as tenants.

Convenient to Interstates, Shopping and Downtown: Interstate 465 (the city’s beltway) is approximately a mile from Decatur Woods. Via I-465, Interstates 65, 69, 70 and 74 are all within a few minutes’ drive. The downtown CBD and Indiana-Purdue University Indianapolis (29,000 students) are within fifteen minutes of the property. The community is exceptionally convenient to the south side’s shopping and dining destinations and the many employment centers clustered along the interstates.

Future Growth in Area is Virtually Assured: Because of the proximity to the airport and interstates the area is one of the city’s most attractive for future commercial development (particularly industrial and warehouse).

High Current Occupancy:
Occupancy on May 5 was 94.4%

New Roofs and Other Capital Projects Completed in 2011 and 2012:  All roofs were replaced in 2011. The property’s swimming pool was completely sandblasted and re-plastered and the parking areas were repaired, sealed and striped in 2012.

5.16.2014

Multifamily Investment Opportunity: Teal Run

Checkout this exciting new opportunity to invest in an Indianapolis multifamily asset. For more information or to download a full offering memorandum visit our website HERE.

Teal Run Investment Highlights:


Multiple Ways to Add Value
  • Unit Upgrades: Property rents can be increased following upgrades of unit interiors.
  • Common Area Amenity Additions/Upgrades: Among other possibilities, desirability can be improved through a Clubhouse remodel to expand amenities and the conversion of existing tennis courts to a pet park or playground.
  • Water/Sewer Bill-backs: Based on the current occupancy and continuing strong leasing traffic, the institution of a water/sewer bill-back ($10 for a One Bedroom and $20 for a Two Bedroom) is readily achievable.
Significantly Improving Operations: New on-site staff is in the process of improving both operations and occupancy at Teal Run.

High Current Occupancy: Occupancy on May 5 was 95.4%
 
Discount to Replacement Cost: Teal Run offers an investor the opportunity to acquire a property well below replacement cost.
 
Convenient to Interstates and Employment Centers: The property is close to access to Interstate 70 and Interstate 465 (Indianapolis’ interstate beltway). The downtown CBD is within fifteen minutes of the property. The community is also near numerous large employment centers. Among the largest employers near Teal Run are Adidas (1,000 employees), Finish Line (700 employees with 300 more planned by end of 2015) and Celedon Trucking.
 
New Roofs in 2011: Roofs are pitched with composite asphalt shingles. All roofs were replaced in 2011.