INDIANAPOLIS — Lee & Associates has negotiated the sale of a 20,786-square-foot industrial warehouse in Indianapolis for an undisclosed price. The property is located at 5402 Massachusetts Ave. Stan Elser of Lee & Associates represented the buyer, Gardner Associates LLC. Jeff Baumgardner of Century 21 Sheetz represented the seller, Parke Properties LLC.
SOUTH BEND, IND. — Asset Campus Housing has been awarded the management of two adjacent student housing properties in South Bend near the University of Notre Dame. The 221-bed Campus Court features a mix of one-, two- and three-bedroom units while the 330-bed Campus View features one- and two-bedroom units. Each community includes amenities such as a yoga studio, study room, game room, fitness center, outdoor grilling area and volleyball courts. Property owners were not disclosed.
INDIANAPOLIS — Walker & Dunlop Inc. has arranged a $17.3 million loan for the construction of Oasis at 56th in Indianapolis. The 124-unit affordable assisted living facility will be located on three acres at 4940 W. 56th St. The property will feature 73 one-bedroom units and 51 studios. Amenities will include a dining area, exercise room, café and laundry facilities. Jeff Lawrence and Matt Baptiste of Walker & Dunlop arranged the 40-year HUD loan on behalf of the borrower, Integral Community Development.
PORTAGE, IND. — Healthy Smiles Northwest Indiana will open a 2,000-square-foot location at the Promenade at Founders Square in Portage. The dental practice will join Big Time Burgers and Brew and the Greater Portage Chamber of Commerce as tenants at the mixed-use development, which includes residential units. Holladay Properties provides leasing and property management services for the Promenade at Founders Square, which is owned by an investment group led by the Portage office of Holladay Properties. Michael O’Connor of Holladay Properties represented the building ownership group in the lease transaction with Healthy Smiles.
BLOOMINGTON, IND. — The Preiss Company and TH Real Estate have acquired The Park on Morton, located two blocks from Indiana University in Bloomington. The purchase price was not disclosed. Preiss will manage the 472-unit student housing property, which will undergo upgrades to the clubhouse and amenity spaces. Several of the units will receive upgrades as well. Situated on the western edge of campus, The Park on Morton features a mix of one-, two-, three- and four-bedroom units, which are all fully furnished.
MICHIGAN, INDIANA AND OHIO — Global Net Lease Inc., a real estate investment trust focused on the acquisition of net lease industrial properties, has acquired five industrial assets representing approximately 1.4 million square feet for $83 million. Three of the buildings are located in Michigan with one in Indiana and one in Ohio. The properties are leased to Contractors Steel Co., a steel service supplier. The industrial buildings included in this transaction comprise all of Contractors Steel Co.’s facilities and also house the company’s offices, central inventory and processing depot.
INDIANAPOLIS — Emma Capital Investments Inc. has purchased three apartment properties totaling 849 units in Indianapolis for $63.8 million. The properties include the 336-unit Retreat Northwest, the 388-unit M Club Apartments and the 125-unit Aura Apartments. All three properties were built in the 1970s. The seller was not disclosed. To date, Emma Capital’s U.S. portfolio totals 7,500 apartment units, mostly located in the Sun Belt states.
NOBLESVILLE, IND. — Lancaster Pollard has arranged a $19.9 million HUD-insured loan to fund the construction of Heritage Woods of Noblesville, a 124-unit affordable assisted living facility in Noblesville, a suburb of Indianapolis. Completion is slated for January 2019. The borrowers are Gardant Management Solutions and Horve Builders. The loan features a fixed interest rate and 40-year term. Brett Murphy led the transaction for Lancaster Pollard.
ILLINOIS, INDIANA AND WISCONSIN — Berkadia has arranged the $41.5 million sale of the Tristate Portfolio, a 545-unit multifamily portfolio located in Illinois, Indiana and Wisconsin. The properties include: the 184-unit Garden Quarter in Elgin, Ill.; the 123-unit Glacier Hills in Madison, Wis.; the 138-unit Arbor Crossing in Valparaiso, Ind.; and the 100-unit Barrington Bridge in Chesterton, Ind. Glacier Hills was constructed in 1989, while the other properties were built in the 1970s. Alex Blagojevich, Ralph DePasquale, Chris Bruzas and Parker Stewart of Berkadia represented the undisclosed seller. Two separate buyers purchased the portfolio.
CHESTERTON, IND. — NorthMarq Capital has arranged a $3.6 million Freddie Mac loan for the refinancing of Deer Run Apartments in Chesterton, which is located in northwestern Indiana. The 72-unit apartment property was built in the 1970s. Brett Hood of NorthMarq arranged the 10-year loan.