166-UNIT MULTIFAMILY PROPERTY SELLS IN INDIANAPOLIS

by admin

INDIANAPOLIS — An affiliate of Chicago-based LT Group has purchased CityView of Meridian, formerly known as Summit House Apartments, in Indianapolis. The 20-story, high-rise property offers 166 residential units. Located at the corner of 38th and Meridian streets, the complex features a rooftop swimming pool and skyline views. The buyer plans to upgrade many of the apartments, renovate the lobby, tenant amenity center and coffee bar, and replace the windows and redesign the canopy. The Indianapolis-Cincinnati Multi-Housing group of CB Richard Ellis negotiated the transaction. The property fell into receivership last year and was listed at $6.95 million. Additional terms of the sale were not disclosed.

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