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

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