ARA BROKERS $24.2M SALE OF APARTMENT PROPERTY IN FORT WAYNE

by admin

FORT WAYNE, IND. — Atlanta-based ARA has brokered the $24.2 million sale of Oak Crossing Apartments, a 222-unit, Class A apartment community located in Fort Wayne. Steadfast Income REIT Inc., an Orange County, Calif.-based public non-listed REIT, purchased the property. Completed in 2013, Oak Crossing consists of one-, two- and three-bedroom apartments. The property is currently 94 percent occupied with average market rents of $996. The apartment community is located within a mile of the newly built Parkview Regional Medical Center. Todd Stofflet and Steve Kemmerling of ARA’s Chicago office represented the seller, Dupont & Tonkel Partners LLC, which developed and built the property.

You may also like