5.19.2017

PRESS RELEASE | Tikijian Associates Sells 226-unit Black Bear Creek Apartments in Fort Wayne, Indiana


Tikijian Associates Sells 226-unit Black Bear Creek Apartments in Fort Wayne, Indiana

Location: Indianapolis, IN

Seller: White Oak Partners LLC
Buyer: Renewing Management, Indianapolis, Indiana

Tikijian Associates is pleased to have represented the seller in the sale of Black Bear Creek Apartments, a 226-unit community in Fort Wayne, Indiana.

The seller, Ohio based White Oak Partners, is an experienced and market leading sponsor of multifamily real estate investment funds. Black Bear was originally purchased by White Oak in 2011.

The buyer, now owner of Black Bear Creek, is Renewing Management, an Indianapolis-based owner and manager with a focus on the acquisition, rehabilitation and stabilization of multifamily properties. Renewing Management is planning significant capital improvements at the property, including construction of a new clubhouse/community building, new roofs, new windows and interior unit upgrades / updates. The new owner will supervise construction and operate the community through its affiliated management company. With the acquisition of Black Bear Creek, Renewing Management now owns and manages 23 multifamily properties and 2,500 units all located in the state of Indiana.
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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