Indiana

HVAF of Indiana, Woda Cooper Break Ground on 61-Unit Affordable Housing Community in Indianapolis

by Kristin Harlow June 14, 2021

INDIANAPOLIS — Co-developers HVAF of Indiana and Woda Cooper Cos. Inc. have broken ground on Proctor Place, a 61-unit affordable housing community in Indianapolis. The $12.6 million, three-story project is located at 240 N. Warman Ave. on the Central Greens campus just west of downtown. Units will be designated for renters who earn 30 to 80 percent of area median income. Monthly rents will range from $461 to $1,035, depending on the size of unit and income restrictions. Amenities will include a community room, indoor bicycle storage, playground, gazebo, free computers and free Wi-Fi. The city provided a payment in lieu of taxes (PILOT) to support the development, and the Indianapolis Housing Agency provided project-based vouchers for the 15 units set aside for veterans. The Indiana Housing & Community Development Authority allocated low-income housing tax credits for the project. HVAF of Indiana, formally known as Helping Veterans and Families, will coordinate supportive services onsite. The organization assists veterans in returning to self-sufficiency and avoiding homelessness. Fallbrook Opportunity Zone Fund II provided equity financing, while Cedar Rapids Bank & Trust provided a first mortgage. Fifth Third Bank served as construction lender and equity investor. The project team includes Indianapolis-based architect Cripe, …

June 14, 2021

Acquisitions Indiana Midwest Office

Colliers Brokers Sale of Historic Office Building in Downtown Indianapolis

by Kristin Harlow June 14, 2021

INDIANAPOLIS — Colliers International has brokered the sale of The Academy Building in downtown Indianapolis for an undisclosed price. The historic office building, located at 429 E. Vermont St., rises four stories and spans 30,436 square feet. Built in 1911 as the girl’s school St. Mary’s Academy, the property is now 87 percent occupied by 21 tenants. Alex Cantu and Alex Davenport of Colliers represented the seller, The Health Foundation of Greater Indianapolis. Indianapolis-based Shook Realty Group LLC was the buyer.

June 14, 2021

Acquisitions Indiana Industrial Midwest

MAG Capital Partners Purchases Five Industrial Properties in Sale-Leaseback Transaction

by Kristin Harlow June 8, 2021

NORTH VERNON, IND. AND GADSDEN, ALA. — MAG Capital Partners LLC has purchased a five-property industrial portfolio occupied by Decatur Plastic Products (DPP) in Indiana and Alabama. The purchase price for the sale-leaseback transaction was undisclosed. The 252,322-square-foot portfolio includes a recently constructed warehouse and manufacturing facility spanning 100,000 square feet in North Vernon, Ind. The sale also includes two nearby facilities in North Vernon as well as two properties in Gadsden, Ala. Bill Drinkall, Brook Steed and Dave Horacek of Bradley Co. represented both the buyer and the seller in the transaction. Fort Worth, Texas-based MAG Capital Partners is a real estate investment and development firm led by principals Dax T.S. Mitchell and Andrew Gi.

June 8, 2021

Indiana Industrial Leasing Activity Midwest

Mauser Packaging Signs 25,110 SF Industrial Lease in Northwest Indiana

by Kristin Harlow June 7, 2021

VALPARAISO, IND. — Mauser Packaging has signed a 25,110-square-foot industrial lease at 2650 Barley Road in Valparaiso, a city in Northwest Indiana. Barley Properties owns the newly constructed building, which spans 65,592 square feet. Holladay Properties and Holladay Construction Group provided development and construction services for the project. The two firms have also been tapped to market the property for lease. Mauser specializes in manufacturing packaging products from recycled content as well as reconditioning, reuse, recycling and professional disposal.

June 7, 2021

Development Indiana Midwest Multifamily

Birge & Held Opens Five-Story Apartment Community in Indianapolis

by Kristin Harlow June 4, 2021

INDIANAPOLIS — Birge & Held has opened The E’Laan Apartments, a five-story apartment community located at 515 E. Market St. in downtown Indianapolis. The 71-unit property features studio, one- and two-bedroom floor plans. Amenities include a rooftop pool, lounge area, dog park and parking garage. Residents can now receive two months of free rent if they sign a 13-month lease prior to June 30. Monthly rents start at $1,276. Indianapolis-based Birge & Held, which served as the developer and contractor, has more than $1.6 billion in projects under management and has acquired over 14,000 units throughout the central United States.

June 4, 2021

Acquisitions Indiana Industrial Midwest

Savills Brokers $24.7M Sale of Manufacturing Plant in Evansville, Indiana

by Kristin Harlow June 2, 2021

EVANSVILLE, IND. — Savills has brokered the sale of Graham Packaging’s plastics manufacturing plant in Evansville for $24.7 million. The 266,720-square-foot, net-leased facility is located at 5504 Foundation Drive within Vanderburgh Industrial Park. Graham Packaging produces 300 million food and beverage containers annually at the property, which was built in 2002 and expanded in 2008. Maurice Nieman of Savills represented the undisclosed seller. SomeraRoad was the buyer.

June 2, 2021

Indiana Loans Midwest Multifamily

ACRE Provides $21M for Renovation of Multifamily Property in Indianapolis

by Kristin Harlow June 2, 2021

INDIANAPOLIS — Asia Capital Real Estate (ACRE) has provided a $21 million loan for the renovation of Williamsburg North in Indianapolis. The 318-unit multifamily property, located at 4430 Brookline Court, was built in the 1960s. Amenities include a clubhouse, dog park, fitness center, pool and picnic areas. At the time of loan closing, the asset was 97 percent leased. The three-year loan features a loan-to-value ratio of 71 percent. Real estate investor David Shemano was the borrower.

June 2, 2021

Indiana Industrial Leasing Activity Midwest

Kroger Health Signs 57,317 SF Industrial Lease in Jeffersonville, Indiana

by Kristin Harlow June 1, 2021

JEFFERSONVILLE, IND. — Kroger Health has signed a 57,317-square-foot industrial lease at 301 Logistics Ave. within River Ridge Commerce Center in Jeffersonville, just north of Louisville. Robert Walker and Stephan Gray of Cushman & Wakefield | Commercial Kentucky represented the landlord, Tratt Properties LLC. Walker, along with Doug Altemuehle of Newmark Cincinnati, represented Kroger Health, which is a division of The Kroger Co. The tenant expects to create 60 new jobs at the facility.

June 1, 2021

Acquisitions Company News Illinois Indiana Midwest Top Stories

Old National Bank, First Midwest Agree to $6.5B Merger Deal

by John Nelson June 1, 2021

EVANSVILLE, IND. AND CHICAGO — Old National Bancorp (Nasdaq: ONB) and First Midwest Bancorp Inc. (Nasdaq: FMBI) have entered into a definitive merger agreement valued at $6.5 billion. The two Midwest institutions operate retail bank branches under the Old National Bank and First Midwest Bank brands, respectively. The all-stock transaction is expected to close late this year or early 2022 and is subject to customary closing conditions, including regulatory and shareholder approvals. The boards of directors of both companies have unanimously approved the merger agreement. The “merger of equals” arrangement will allow the banks to compete against other banks and lenders in the Midwest for new business, as well as give both organizations the ability to scale and retain their existing personnel and client base. The combined company will be the sixth-largest bank with headquarters in the Midwest. The transaction calls for First Midwest stockholders to receive 1.1336 shares of Old National common stock for each share of First Midwest common stock they own. Following completion of the transaction, former First Midwest stockholders are expected to collectively represent approximately 44 percent of the combined company. This values First Midwest currently at $2.5 billion, according to Market Watch. The combined assets …

June 1, 2021

Indiana Industrial Leasing Activity Midwest

Lunar Distribution Signs 145,600 SF Industrial Lease in New Haven, Indiana

by Kristin Harlow May 27, 2021

NEW HAVEN, IND. — Lunar Distribution LLC has signed a 145,600-square-foot industrial lease at 10785 Rose Ave. within the Cedar Oak Industrial Park in New Haven, just east of Fort Wayne. The distributor of comic books for publishers such as DC and Marvel will occupy the space beginning in June. The facility, which features a clear height of 30 feet, is located at the corner of I-469 and U.S. Highway 24. Bill Drinkall and Brook Steed of Bradley Co. represented the undisclosed landlord.

May 27, 2021

Newer Posts

Older Posts