7.18.2016

PRESS RELEASE: Tikijian Associates Sells Mixed Use Development Including 192 Apartment Units

FOR IMMEDIATE RELEASE


Tikijian Associates Sells Mixed Use Development Including 192 Apartment Units


Location: Indianapolis, Indiana
Seller: Private Investors from Indianapolis and Southern California
Buyer: Los Angeles-Based Private Equity Firm

Closing Date: May 24, 2016

Tikijian Associates is pleased to have arranged the sale of Madison Village, a mixed use development on the south side of Indianapolis. The development includes a 192-unit apartment community.

Tikijian Associates represented the seller, a small group of private investors from Indianapolis and Southern California. The property was built in 1965 and had been owned by the seller since 1979. Locally based Barrett & Stokely had managed the property for the owner since their acquisition.

The buyer was a Los Angeles-based private equity firm which owns and manages multifamily properties in the West and Midwest. Madison Village was the company’s third apartment acquisition in Indianapolis. The new owner plans to make significant upgrades to the property’s common areas, amenities and unit interiors.

For additional information:
Tikijian Associates
3755 E. 82nd St., Suite 265
Indianapolis, IN  46240

Phone: 317-578-0088
Fax: 317-570-3677

Contact: George Tikijian (gtikijian@TAmultihousing.com), or Hannah Ott (ott@tamultihousing.com)

Web Site: www.TAmultihousing.com

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