71
INDIANAPOLIS — Rapchak Holdings has purchased a distressed 386-unit apartment community in Indianapolis from Paladin Asset Preservation, which was acting as receiver. Harrison Point Apartments is located at the intersection of 42nd Street and Post Road. The buyer plans to extensively renovate the property to include roof replacements, a parking lot resurfacing, and interior and landscaping improvements. Tikijian Associates represented the buyer, and ARA Midwest represented the seller. The acquisition price was not disclosed.