9.28.2018
PRESS RELEASE | Tikijian Associates Arranges Sale of 192-Unit Apartment Community in Greenwood, Indiana
Tikijian Associates Arranges Sale of 192-Unit Apartment Community in Greenwood, Indiana
Location: Greenwood, IN
Seller: New York Private Equity Group
Buyer: Summit Equity Investments
Tikijian Associates is pleased to announce the sale of Auburn Place Apartments, a 192-unit community located in Greenwood, a popular southern suburb of Indianapolis
Tikijian Associates represented the seller, a New York private equity group whose holdings include multifamily properties in Indiana and several other Midwestern, eastern and southeastern states.
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 fifth in the greater Indianapolis area.
The continued strong demand for multifamily assets in the Indianapolis market was demonstrated by the sixteen offers received, several of which were at or above pricing guidance. Many investors continue to focus on well-located assets, like Auburn Place, that offer an opportunity to enhance rental revenue through upgrades to unit interiors and amenities.
Tikijian Associates is a market-leading boutique brokerage firm specializing exclusively in the sale of multifamily properties throughout Indiana. The sale of Auburn Place was the company’s twenty-second sale in 2018, totaling over 5,100 units and more than $310,000,000 in value.
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@TAmulti.com), or Hannah Ott (ott@tamulti.com)
Website: www.TAmulti.com
9.26.2018
9.25.2018
PRESS RELEASE | Tikijian Associates Arranges Sale of 240-Unit Double Creek Flats Apartments in Plainfield, IN
Location: Plainfield, IN
Seller: Affiliate of Domo Development, LLC
Buyer: Steadfast Apartment REIT III, LLC
Tikijian Associates is pleased to announce the sale of 240-unit Double Creek Flats, a new, Class A, luxury community located in Plainfield, Indiana, a growing suburban community just west of Indianapolis
Tikijian Associates represented the seller, Domo Development. Domo is a developer of class A luxury apartment communities with properties in the Indianapolis area as well Fort Wayne and Lafayette, Indiana.
Double Creek Flats was completed in 2016 and experienced a very successful lease-up. The community was managed for the seller by Indianapolis-based Flaherty & Collins.
The buyer Steadfast Apartment REIT III, is based in Irvine, California. The acquisition was the buyer’s seventh multifamily investment in the Greater Indianapolis Metro area. Steadfast is an active apartment operator throughout the country with a portfolio under their management / ownership of approximately $5.0 billion with over 38,000 units in 23 states.
Tikijian Associates is a market-leading boutique brokerage firm specializing exclusively in the sale of multifamily properties throughout Indiana. The company has sold sixteen properties in the first half of 2018 totaling over 3,700 units and more than $233,000,000 in value. In 2017 Tikijian Associates closed twenty-two apartment sales totaling over 5,900 units and more than $439,000,000.
Click here for a Double Creek Image
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@TAmulti.com), or Hannah Ott (ott@tamulti.com)
Website: www.TAmulti.com
9.20.2018
9.19.2018
9.14.2018
PRESS RELEASE | Tikijian Associates Arranges Sale of Two Apartment Communities - 420 Units in Elkhart, Indiana
Location: Elkhart, IN
Seller: Brooklyn, NY Real Estate Investor
Buyer: Monterey, CA Real Estate Investor
Tikijian Associates is pleased to announce the sale of two apartment communities in the city of Elkhart, in northern Indiana. The properties, 230-unit Carriage House Apartments and 190-unit Williamsburg on the Lake Apartments, are adjacent to one another. Slightly less than 40% of the units are subsidized through HUD project-based Housing Assistance Payments (HAP) contracts.
Tikijian Associates represented the seller, a Brooklyn, New York investor that acquired the property in early 2016.
The buyer is a private investor based in Monterey, California. The acquisitions were the buyer’s first in Indiana. Indianapolis-based Flaherty & Collins, who served as manager for the seller, will continue to manage for the buyer.
Tikijian Associates is a market-leading boutique brokerage firm specializing exclusively in the sale of multifamily properties throughout Indiana. The sale of Carriage House and Williamsburg on the Lake are the company’s twentieth and twenty-first apartment sales in the first eight months of 2018, totaling over 4,500 units and more than $295,000,000 in value.
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@TAmulti.com), or Hannah Ott (ott@tamulti.com)
Website: www.TAmulti.com
