Indiana

Greystone Structures $31.3M in Acquisition Financing for Multifamily Property in Merrillville, Indiana

by Kristin Harlow September 16, 2025

MERRILLVILLE, IND. — Greystone has provided a $26.3 million Freddie Mac loan to finance the acquisition of Tiberon Trails Apartments in Merrillville. Additionally, Greystone Equity Services brought in MORE Capital, an affiliate of Morgan Properties, as a preferred equity provider. MORE Capital supplied a nearly $5 million preferred equity loan in conjunction with the Freddie Mac financing. Eric Rosenstock of Greystone originated the Freddie Mac loan on behalf of the borrower, Bayshore Properties. The loan features a fixed interest rate over a five-year term with a 30-year amortization and two years of interest-only payments. Tiberon Trails comprises 374 units with a mix of studio, one-, two- and three-bedroom layouts. Amenities include a playground and fitness center.

September 16, 2025

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges $3.8M Sale of Auto Repair Center in Greenwood, Indiana

by Kristin Harlow September 15, 2025

GREENWOOD, IND. — Marcus & Millichap has arranged the $3.8 million sale of an auto repair center occupied by Caliber Collision in Greenwood. The property totals 33,511 square feet and is located at 155 Melody Ave. Caliber Collision occupies the asset under a double-net lease with more than three years remaining on the lease. Mitch Grant, Nicholas Kanich and Josh Caruana of Marcus & Millichap represented the Indiana-based seller. Dominic Sulo, Ryan Engle and Andrean Angelov of Marcus & Millichap procured the Illinois-based buyer.

September 15, 2025

Development Indiana Midwest Mixed-Use

Skender to Build $105M Mixed-Use Development in Westfield, Indiana

by Kristin Harlow September 11, 2025

WESTFIELD, IND. — Skender will build a $105 million mixed-use project in downtown Westfield, a northern suburb of Indianapolis. Previously known as Jersey 32, the development was recently renamed The Grand on Main. The Westfield City Council approved the project in July. Plans call for 216 residential units, 51,000 square feet of ground-floor retail space and more than 15,000 square feet of commercial office space. Skender will also move into office space within the development. In addition to Skender, the project team includes BW Development and Studio M as designer. Construction is scheduled to begin later this year, with completion slated for 2027.

September 11, 2025

Acquisitions Indiana Industrial Midwest

Realterm Acquires 10-Acre Industrial Property in Indianapolis

by Kristin Harlow September 10, 2025

INDIANAPOLIS — Realterm has acquired a 79-door truck terminal located at 2612 W. Morris St. in Indianapolis for an undisclosed price. The 10-acre property features a 37,965-square-foot truck terminal with 7,635 square feet of office space and a 7,626-square-foot maintenance shop. The truck terminal includes 124 trailer parking stalls and two points of ingress and egress. It recently underwent significant renovations, including a roof replacement, repaved parking lot, interior improvements to the terminal and maintenance facility, and enhanced security measures. The property offers immediate access to I-70 and the Indianapolis International Airport.

September 10, 2025

Acquisitions Indiana Midwest Multifamily

Marcus & Millichap Brokers $4.3M Sale of River Shore Apartments in South Bend, Indiana

by Kristin Harlow September 10, 2025

SOUTH BEND, IND. — Marcus & Millichap has brokered the $4.3 million sale of River Shore Apartments in South Bend. The 48-unit multifamily property was built in 1969 on 2.1 acres. Of the 48 units, 39 have been renovated and 44 are two-bedroom floor plans. Amenities include a dog park, car ports and small storage compartments. The asset is located one mile from Indiana University South Bend and Bethel College. Jack Friskney, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the South Bend-based seller and procured the Detroit-based buyer.

September 10, 2025

Indiana Loans Midwest Multifamily

ACRES Capital Provides $54.3M Loan for Refinancing of Multifamily Community in Metro Indianapolis

by Kristin Harlow September 8, 2025

NOBLESVILLE, IND. — ACRES Capital has provided a $54.3 million loan for the refinancing of Promenade Trails, a 210-unit multifamily community in the Indianapolis suburb of Noblesville. The age-restricted property offers one- and two-bedroom units with 476 parking spaces, a pool, sun deck, fitness center, pet spa, clubhouse and dog park. Justus Cos. was the borrower.

September 8, 2025

Acquisitions Indiana Industrial Midwest

Greenstone Partners Brokers $16.5M Sale of Two Industrial Facilities in Portage, Indiana

by Kristin Harlow September 4, 2025

PORTAGE, IND. — Greenstone Partners has brokered the $16.5 million sale of the Addison and Clark buildings, two multi-tenant industrial properties totaling 166,134 square feet in Portage. The transaction represents the highest price per square foot ever achieved for a multi-tenant industrial investment of 50,000 square feet or larger in the Northwest Indiana region, according to CoStar. Located at 6625 and 6675 Daniel Burnham Drive, the shallow bay buildings are home to a long-term tenant base with an average tenure of 13 years. Flexible suite configurations range from 10,000 to 50,000 square feet. Jason St. John of Greenstone represented the seller, a Florida-based private investor, and procured the buyer, Sperry Equities, a Southern California-based real estate investment group.

September 4, 2025

Acquisitions Indiana Midwest Retail

Mid-America Arranges Sale of 182,051 SF Shopping Center in Fort Wayne, Indiana

by Kristin Harlow September 3, 2025

FORT WAYNE, IND. — Mid-America Real Estate Corp. has arranged the sale of Covington Plaza, a 182,051-square-foot shopping center in Fort Wayne. Anchor tenants include The Fresh Market, Office Depot, Planet Fitness and The Woodhouse Day Spa. Other tenants include Pet Supplies Plus, Tequila Mexican Cantina, Cap n’ Cork, Christopher James Menswear and Catablu Grille. Ben Wineman, Joe Girardi, Rick Drogosz and Eric Geskermann of Mid-America represented the seller, Broad Reach Retail Partners. Charleston, S.C.-based Ziff Real Estate Partners was the buyer.

September 3, 2025

Indiana Industrial Leasing Activity Midwest

Hearn Industrial Services Signs 197,587 SF Lease in East Chicago, Indiana

by Kristin Harlow August 28, 2025

EAST CHICAGO, IND. — Hearn Industrial Services has signed a 197,587-square-foot lease at 1200 W. 145th St. in East Chicago. The Missner Group owns the newly developed industrial building. The tenant, a third-party logistics provider supporting Ford Motor Co.’s South Side Chicago plant, will utilize the space for the storage and distribution of parts for automotive manufacturing. The Missner Group is serving as general contractor for the build-out, which includes customized office and warehouse configurations. The 249,600-square-foot building was developed on a speculative basis and is now fully leased.

August 28, 2025

Acquisitions Indiana Midwest Multifamily

Marcus & Millichap Negotiates $4.9M Sale of Multifamily Property in Marion, Indiana

by Kristin Harlow August 26, 2025

MARION, IND. — Marcus & Millichap has negotiated the $4.9 million sale of Park Forest Apartments in Marion, which is located about midway between Indianapolis and Fort Wayne. The 64-unit multifamily property at 1005 N. Park Forest Drive features two-bedroom units. Each 900-square-foot residence has undergone recent renovations, including new balconies, windows, HVAC systems and water heaters. Quentin Benedetto, Kyle Stengle and Jack Stanton of Marcus & Millichap represented the seller, Pentagon Investment Group. Benedetto and Stanton procured the buyer, Ross McCarthur, co-founder of Follow The Deal Investments.

August 26, 2025

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