PRESS RELEASE | Tikijian Associates Brokers the Largest Multifamily Portfolio Sale in Indianapolis

Tikijian Associates Brokers the Largest Multifamily Portfolio Sale in Indianapolis

Location: Indianapolis, IN

Seller: Hampshire Properties

Buyer: The Wilkinson Corporation

Tikijian Associates is pleased to have arranged the sale of a five-property portfolio totaling 1,983 units in Indianapolis. The sale is believed to be the largest portfolio sale to a single buyer in Indianapolis in this millennium.

The portfolio consists of the following Indianapolis communities:
Westlake – 1,381 units
Woods Edge – 190 units
Wind Drift – 166 units
Villa Nova – 126 units
Riverwood – 120 units

The sale included Indianapolis’ largest apartment community, Westlake Apartments with 1,381 units.

Tikijian Associates represented the seller, Hampshire Properties headquartered in Brooklyn, New York. The seller acquired the properties in multiple transactions in 2008 from Aimco when the large REIT decided to exit several Midwestern states.

The properties have been managed by Flaherty and Collins, a well-respected property management firm based in Indianapolis.

The buyer was The Wilkinson Corporation, based in Yakima, Washington. Since its founding in 1991, Wilkinson has acquired more than 120 properties, developed or co-developed sixteen more, and has a portfolio valued at over $1.7 billion. The buyer plans over $29M in capital investment including upgrades of unit interiors and common areas as well as enhancement of amenities.

Tikijian Associates is a market-leading boutique brokerage firm specializing exclusively in the sale of multifamily properties throughout Indiana. The sale of the five property portfolio brings the firm’s sold property total to 28 in 2018, totaling over 7,300 units and more than $550 million 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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