4.21.2016

PRESS RELEASE: Tikijian Associates Brokers Sale of Class A Cumberland Pointe Apartments in Hamilton County, Indiana


Summary:

Property:          Cumberland Pointe Apartments - 336 Units
Location:          Noblesville, Indiana
Seller:               Barrett & Stokely, Inc.
Buyer:               Denver-based Private Real Estate Investor
Date Closed:     March 15, 2016
Listing Price:     Marketed Unpriced


Tikijian Associates Brokers Sale of Class A Cumberland Pointe Apartments in Hamilton County, Indiana

Indianapolis, IN - Tikijian Associates is pleased to announce the sale of Cumberland Pointe Apartments, a 336-unit Class A apartment community in Noblesville, Hamilton County, Indiana, just north of Indianapolis.   Hamilton County is the wealthiest and fastest growing county in Indiana.

Tikijian Associates represented the seller, Barrett & Stokely, Inc. Founded in 1976, Barrett & Stokely is one Indianapolis’ largest and most respected apartment owners and managers. The seller acquired Cumberland Pointe as a 208-unit community in 2010, two years after it was built. Barrett and Stokely completed construction on an additional 128 units in 2014.

The purchase of Cumberland Pointe was the first acquisition in Indiana for the buyer, a private real estate investor from Denver, Colorado. Carter-Haston, a Nashville, Tennessee based apartment management firm, is managing the property for its new owner.

Cumberland Pointe was marketed without an asking price and attracted significant interest from local, regional and national investors.

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