Capstone Brokers $1.8M Sale of Multifamily Property in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Capstone Cos. has brokered the sale of Oxford Terrace Apartments in Indianapolis for $1.8 million. The 40-unit, garden-style property was constructed in 1986 and is situated in the city’s Martindale-Brightwood neighborhood. Kevin Burns and David Funke of Capstone brokered the transaction between the sellers, Paul Shannon and Powell Chee, and the buyer, Razor Capital Group. The transaction included seller financing of $1.25 million at a 6 percent interest rate with interest-only payments over the term of three years. The new owner is poised to continue the previous owner’s value-add strategy, focusing on the renovation of the remaining 18 units.

You may also like