ADFAST INCOME REIT BUYS 222-UNIT APARTMENT COMMUNITY IN INDIANA FOR $24.2M

FORT WAYNE, IND. — Steadfast Income REIT Inc. has acquired Oak Crossing, a 222-unit apartment community in Fort Wayne, Ind., for $24.2 million. The Class A apartment community, built in 2013, consists of garden-style buildings with one-, two- and three-bedroom units. The average monthly in-place rent is $952. Apartment units include private balconies/patios, washer and dryers, walk-in closets and kitchen appliances. Select floor plans come with attached garages, and detached garages are available for rent. Oak Crossing is currently 94 percent occupied. Amenities at the complex include a fitness center, swimming pool, clubhouse with a stone fireplace, business center and grilling area. Oak Crossing is Steadfast Income REIT’s third property in Indiana. The REIT also owns the 268-unit Lodge at Trails Edge in Indianapolis and the 250-unit Sycamore Terrace in Terre Haute.