Tikijian Associates Sells Arbor Village Apartments in Anderson, Indiana
Location: Anderson, IN
Seller: CalArbor Investors, an Affiliate of Real Wealth Network, Walnut Hills, California
Buyer: An affiliate of Prodigy Capital, Palm Beach, Florida
Tikijian Associates is pleased to announce the sale of Arbor Village Apartments, a 94-unit community in Anderson, Indiana, located 30 miles north of Indianapolis.
Tikijian represented the seller, CalArbor Investors. CalArbor is an affiliate of Real Wealth Network, based in Walnut Hills, California. Cal Arbor acquired Arbor Village from a lender when it was 100% vacant. The seller completed several major repairs and rehabbed one building (totaling 18 units) before selling the property.
The buyer is BLP Indiana, an affiliate of Prodigy Capital. Based in Palm Beach, Florida, Brightlite specializes in the acquisition and rehabilitation of multifamily properties in distress. Since 2012, the company has acquired more than $70 million in distressed properties. The buyer plans a comprehensive renovation of the property including rehab of the remaining 76 units and improvements to the common areas.
Tikijian Associates is a market-leading boutique brokerage firm specializing exclusively in multifamily sales throughout Indiana.
Click here for a Arbor Village 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
