7.17.2017

PRESS RELEASE | Tikijian Associates Sells 455-Unit Indianapolis Community

FOR IMMEDIATE RELEASE

Tikijian Associates Sells 455-Unit Indianapolis Community

Location: Indianapolis, IN

Seller: RADCO Companies
Buyer: Summit Equity Investments, Inc.

Tikijian Associates is pleased to announce the sale of Ashford at Keystone, a 455-unit apartment community located on Indianapolis’ popular north side.
Tikijian Associates represented the Atlanta-based seller, The RADCO Companies. Founded in 1994, RADCO now owns more than 50 apartment communities in nine states totaling approximately 18,000 units. RADCO bought Ashford at Keystone from the Lehman Brothers bankruptcy estate in 2013 (Tikijian Associates represented Lehman Brothers in that transaction). The seller successfully rehabbed and repositioned the property during its ownership.

The buyer is an affiliate of Summit Equity Investments, Inc., based in Los Angeles. Founded in 2009, Summit is a second-generation family office investor and investment manager. The Company seeks properties offering potential to add value in strong secondary markets throughout the US. The acquisition was Summit’s second in Indianapolis.

The buyer has re-named the community “Summit at Keystone” and plans to continue the upgrades of unit interiors which were begun by the seller. Greystar will manage the property for the new owner.

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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