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

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