Experts on the Indianpolis Apartment Market

Over 70 years of combined experience in the multihousing brokerage industry

60,000 Units Sold Throughout Indiana and Kentucky

Clients include local, regional and national private equity investors; public pension funds; and public and private REITs.

$2 Billion in Multihousing Sales

And the highest number of apartment transactions by any Indianapolis brokerage firm.

Annually Presents the Indiana Apartment "Industry Outlook"

An event hosted in conjuction with the Indiana Apartment Association.

1.23.2018

FOR SALE | Value Add Portfolio Sale | 7.7% Current Cap Rate | 420 Units | Northern IN

PRESS RELEASE | Tikijian Associates Brokers Sale of 512-Unit Apartment Community on Indianapolis’ North Side

FOR IMMEDIATE RELEASE

Tikijian Associates Brokers Sale of 512-Unit Apartment Community on Indianapolis’ North Side

Location: Indianapolis, IN

Seller: New York Private Equity Group
Buyer: Steadfast Apartment REIT
Tikijian Associates is pleased to announce the sale of Avery Point Apartments, a 512-unit community located in the popular Castleton area on the Indianapolis north side.

Tikijian Associates represented the seller, a New York private equity group whose holdings include multifamily properties in Indiana and several eastern and southeastern states.

The buyer, Steadfast Asset Holdings, Inc., is based in Irvine, California. Avery Point was purchased for inclusion within the Steadfast Real Estate Investment Trust (REIT). The buyer plans interior upgrades to the units including: new flooring, lighting package, fixtures, appliances and counter tops. The acquisition was the buyer’s fifth multifamily investment in the Indianapolis area following Lodge at Trails Edge (2013), Harrison Place (2014), Reveal on Cumberland (2015) and Eagle Lake Landing (2015). Steadfast is an active apartment operator throughout the country with a portfolio under their management / ownership of approximately $4.6 billion with over 38,000 units in 23 states. 

The continued strong demand for multifamily assets in the Indianapolis market was demonstrated by the nearly 20 offers received - 25% of which were at or above pricing guidance. Investors are particularly interested in well-located assets where there is an opportunity to increase value through updates or upgrades to interiors, resulting in the ability to raise rents. 

Tikijian Associates is a market-leading boutique brokerage firm specializing exclusively in the sale of multifamily properties throughout Indiana. The sale of Avery Point was the firm’s 21st sale of 2017, totaling over 5,700 units and more than $400,000,000.

Click here for a Avery Point Photo

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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