Indiana

Friedman Arranges Sale of 39,835 SF Retail Center in Clarksville, Ind.

by Danielle Everson November 20, 2014

CLARKSVILLE, IND. — Friedman Integrated Real Estate Solutions has arranged the sale of Veterans Parkway Plaza, a 39,835-square-foot retail center in Clarksville. The shopping center is located at the intersection of Veterans Parkway and I-65, and serves the Louisville metro area north of the Ohio River. Constructed in 2005 on a three-acre site, the asset is located across the street from a Walmart and Sam’s Club, and is adjacent to a Lowe’s. Barry Swatsenbarg and Richard Deptula of Friedman represented both the undisclosed seller and buyer.

November 20, 2014

Indiana Midwest Multifamily

Tikijian Associates Brokers $9M Sale of Apartment Complex in Indianapolis

by Danielle Everson November 17, 2014

INDIANAPOLIS — Tikijian Associates has brokered the $9 million sale of English Village Apartments, a 208-unit apartment community in Indianapolis. The property was built in 1987. Tikijian Associates represented the seller, a privately held real estate investment firm based in New York. The buyer was an affiliate of Birge & Held Asset Management LLC, an Indianapolis-based private equity and property management firm. The buyer plans to make upgrades to the unit kitchens and bathrooms by adding upscale flooring and appliances.

November 17, 2014

Healthcare Indiana Midwest Office

Millennium Properties Brokers $4.4M Sale of 30,000 SF Medical Office Complex

by Danielle Everson November 11, 2014

VALPARAISO, IND. — Millennium Properties R/E has brokered the $4.4 million sale of a 30,000-square-foot medical center in Valparaiso. The Glendale Medical Center is located between Valparaiso University and the Porter Regional Hospital, which was built in 2012. The medical center consists of two separate buildings: a 21,443-square-foot office, that was built in 1985 and an 8,630-square-foot expansion that was completed in 2007. Much of the original building has been updated and the property was 85 percent occupied at the time of sale. Millennium Properties represented the seller, a Chicago-based investor group. Strawberry Fields, a national healthcare REIT with assets located throughout the Midwest, purchased the property.

November 11, 2014

Indiana Midwest Retail

Quantum Brokers $1.3M Sale of 6,943 SF Retail Center in Crown Point, Ind.

by Danielle Everson November 6, 2014

CROWN POINT, IND. — Quantum Real Estate Advisors Inc. has brokered the $1.3 million sale of a 6,943-square-foot, shopping center in Crown Point. Beacon Hill Plaza is located at 10763-10771 Broadway Ave. The shopping center was fully occupied by T-Mobile, Hair Cuttery, The UPS Store, and other local and regional tenants at the time of sale. A Chicago-based developer sold the property to an Indianapolis-based acquisition company. Chad Firsel of Quantum represented the seller in the transaction.

November 6, 2014

Indiana Midwest Multifamily

Tikijian Associates Brokers Sale of 152-Unit Apartment Complex in Indianapolis

by Danielle Everson November 4, 2014

INDIANAPOLIS — Tikijian Associates has brokered the sale of a 152-unit apartment community in Indianapolis for an undisclosed sales price. Teal Run Apartments, located at 2302 Windsong Drive, features one- and two-bedroom garden-style apartments. Tikijian Associates represented the seller, Chicago-based JVM Realty, which has owned the property since 2001. An Ohio-based real estate investment company whose holdings include other multifamily properties in Indiana and Ohio purchased the apartment community. The new owner plans to complete extensive renovations at the property. Cincinnati-based Towne Properties will serve as the property manager for the new owner.

November 4, 2014

Indiana Midwest Multifamily

Tikijian Associates Arranges Sale of 180-Unit Apartment Property in Indianapolis

by Danielle Everson October 29, 2014

INDIANAPOLIS — Tikijian Associates has arranged the sale of Decatur Woods Apartments in Indianapolis. The 180-unit, garden-style apartment community is located at 5838 W. Mooresville Road. Indianapolis-based Ardizzone Group purchased the apartment community for an undisclosed sales price. Ardizzone Group plans to rename the property Aspen Pointe and complete a multi-million-dollar renovation, which will include the addition of new windows, a clubhouse, full interior upgrades to apartment units and an updated common area. Tikijian Associates represented the seller, Chicago-based JVM Realty.

October 29, 2014

Indiana Midwest Multifamily

M&M Arranges $13.9M Sale of 336-Unit Apartment Building in Indianapolis

by Danielle Everson October 28, 2014

INDIANAPOLIS — Marcus & Millichap has arranged the $13.9 million sale of Brighton Park Apartments, a 336-unit apartment property in Indianapolis. The property is located at 8002 Harcourt Road. David Gaines and Alex Blagojevich of Marcus & Millichap’s Chicago downtown office represented the seller, a private investor. Josh Caruana, the firm’s Indiana broker of record, assisted in closing of the transaction.

October 28, 2014

Indiana Midwest

Quantum Brokers $5.7M Sale of 17,790 SF Shopping Center Near Indiana University

by Danielle Everson October 22, 2014

BLOOMINGTON, IND. — Quantum Real Estate Advisors Inc. has brokered the $5.7 million sale of a 17,790-square-foot shopping center in Bloomington. University Square is located at 115 S. Highway 46 Bypass near Indiana University. The shopping center was fully occupied at the time of sale to tenants such as American Mattress, Great Clips, Starbucks and other local and regional tenants. Chad Firsel of Quantum represented the buyer, an Indianapolis-based investor, and the seller, a Chicago-based development group, which developed University Square.

October 22, 2014

Indiana Loans Midwest

Cronheim Arranges $14M in Acquisition Financing for Distribution Center in Indianapolis

by Danielle Everson October 17, 2014

INDIANAPOLIS — Cronheim Mortgage has arranged $14 million in acquisition financing for Monmouth Real Estate Investment Corp. to acquire a new distribution facility in Indianapolis. The 327,862-square-foot property is located in Ameriplex Industrial Park. The facility is situated immediately off of I-70 and is in close proximity to I-65 and I-74. Dev Morris and Andrew Stewart of Cronheim secured the 10-year, fixed-rate loan through American United Life Insurance Co.

October 17, 2014

Indiana Loans Midwest Multifamily

Mission Capital Arranges $31.4M in Financing for Multifamily Development in Indianapolis

by Danielle Everson October 14, 2014

INDIANAPOLIS — Mission Capital Advisors’ debt and equity finance group has arranged $31.4 million in construction financing for a 215-unit multifamily complex in Indianapolis. The financing comprised $7.1 million of institutional joint venture equity and a $24.3 million construction loan for the 225,000-square-foot project. A local sponsor is developing the project, which is located at 600 E. Michigan St. The project will comprise two, four-story multifamily structures around a landscaped courtyard with a resort-style pool, constructed over one level of subterranean parking. Brad Lyons, Ari Hirt and Steven Buchwald of Mission Capital Advisors represented the sponsor in arranging the financing with PNC Bank.

October 14, 2014

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