PRESS RELEASE | Tikijian Associates Sells 66-Unit Class A Senior Apartment Community in Brownsburg, Indiana


Tikijian Associates Sells 66-Unit Class “A” Senior Apartment Community in Brownsburg, Indiana

Location: Brownsburg, IN

Seller: Joint Venture of Whitmore Investments and Paragus Companies
Buyer: Summit Equity Investments

Tikijian Associates is pleased to announce the sale of Bailey Park of Brownsburg Apartments, a 66-unit Class A independent living senior apartment community located in growing Brownsburg, Indiana, just west of Indianapolis.

Tikijian Associates represented the seller, a joint venture of Whitmore Investments and Indianapolis-based developer Paragus. The seller completed construction of Bailey Park of Brownsburg in 2015. The community is designed for “55 and better” residents and features spacious ground-level units, each with an attached garage.

The buyer was 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 fourth in Indianapolis.

H-I Management, a respected management company based in Indianapolis which managed the property for the seller, has been retained by the new owner to continue management.

Tikijian Associates is a market-leading boutique brokerage firm specializing exclusively in multifamily sales throughout Indiana. The firm’s sales total over 91,000 units and more than $3.4 Billion.

For additional information:
Tikijian Associates
3755 E. 82nd St., Suite 265
Indianapolis, IN  46240

Phone: 317-578-0088

Contact: George Tikijian (gtikijian@TAmulti.com), or Hannah Ott (ott@tamulti.com)

Website: www.TAmulti.com


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