5.05.2017

PRESS RELEASE | Tikijian Associates Sells 314-unit Island Club Apartments in Indianapolis, Indiana


Tikijian Associates Sells 314-unit Island Club Apartments in Indianapolis, Indiana

Location: Indianapolis, IN

Seller: An affiliate of Westdale Real Estate Investment & Management
Buyer: An affiliate of Summit Equity Investments, Inc.

Tikijian Associates is pleased to have represented the seller in the sale of Island Club Apartments, a 314-unit community on the northwest side of Indianapolis, Indiana. The well maintained property was built in 1990 and is located on a beautiful 23 acre lake. The offering attracted significant interest from local, regional and national investors.

Tikijian Associates represented the seller, Westdale Real Estate Investment & Management, based in Dallas. Founded in 1991, Westdale controls and manages approximately 200 commercial and multifamily properties located in 30 cities, representing a total capitalization of greater than $4 billion.

The buyer was an affiliate of Summit Equity Investments, Inc., based in Los Angeles. Founded in 2009, Summit is a family office investor and investment manager. The company owns and manages over 3,000 apartment units in strong secondary markets throughout the US. The acquisition was Summit’s first in Indianapolis.

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