1.09.2017

PRESS RELESE: Tikijian Associates Sells 304-Unit Apartment Community in Indianapolis


Tikijian Associates Sells 304-Unit Apartment Community in Indianapolis

Location: Indianapolis, IN

Seller: Hunters Run Venture, Chicago, IL
Buyer: Becovic Management Group, Indianapolis, IN

Closing Date: November 10, 2016

Tikijian Associates is pleased to have arranged the sale of Hunters Run Apartments on the west side of Indianapolis. The sale of the 304-unit apartment community closed on November 10, 2016.

Tikijian Associates represented the seller, Hunters Run Venture, a Chicago-based private equity syndication.

The buyer and new owner of Hunters Run is Becovic Management Group. Based in Indianapolis and Chicago, the buyer owns and/or manages an extensive portfolio of apartments in Indiana, the Chicago area and Florida, as well as office and industrial properties. The acquisition of Hunters Run brings the company’s Indianapolis area apartment portfolio to seven properties totaling in excess of 1,300 units.

Tikijian Associates assisted Becovic with the assumption of the existing HUD loan on the property which was time sensitive. Working in conjunction with P/R Mortgage and the Wooden & McLaughlin law firm HUD approval for the assumption occurred in record time.

The buyer has changed the community’s name to Garden Pointe and plans a significant property-wide renovation, including improvements to amenities and unit interiors.

Tikijian Associates is a market-leading boutique brokerage firm specializing exclusively in multifamily sales throughout Indiana.

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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