Indiana

LifeNet Health Signs 68,175 SF Industrial Lease in Indianapolis

by Kristin Harlow February 11, 2019

INDIANAPOLIS — LifeNet Health has signed a 68,175-square-foot industrial lease at the Gateway V distribution center in Indianapolis. HSA Commercial Real Estate is developing the 262,758-square-foot speculative facility, which is scheduled for completion this month. LifeNet Health, a provider of transplant solutions, will take occupancy in July. The building features a clear height of 32 feet, 30 truck docks, four drive-in doors, 185 parking stalls and 70 trailer positions. Terry Busch and Jared Scaringe of CBRE represented ownership in the lease transaction.

February 11, 2019

Acquisitions Indiana Midwest Multifamily

Emma Capital Purchases Two Apartment Properties in Indianapolis for $38.5M

by Kristin Harlow February 8, 2019

INDIANAPOLIS — Emma Capital Investments Inc. has acquired Courts I and Courts II in Indianapolis for $38.5 million. Courts I is a 148-unit apartment property located at 2000 W. 79th St. and Courts II is a 336-unit community located at 8002 Harcourt Road. The properties were built in 1967 and 1973, respectively. The buildings, which are adjacent to each other, are currently being operated as one property. However, Emma Capital intends to run each of the communities separately. Each property features a swimming pool, playground, pet park and fitness center. The seller was not disclosed.

February 8, 2019

Indiana Industrial Leasing Activity Midwest

Opus Completes Lease-up of 496,416 SF Industrial Development in Greenwood, Indiana

by Alex Tostado February 8, 2019

GREENWOOD, IND. — The Opus Group has completed the lease-up of Greenpointe Logistics Center in Indiana. VMInnovations Inc., an e-commerce company, has fully leased the 496,416-square-foot speculative industrial development. Situated on 31 acres, the property offers convenient access to major transportation routes, including I-65. The facility features a clear height of 36 feet. Opus developed the project in partnership with Diamond Realty Investments Inc. Luke Wessel of Cushman & Wakefield represented Opus in the lease transaction. Adam Campbell of Cushman & Wakefield represented the tenant, which sells toys, home and outdoor products and electronics.

February 8, 2019

Acquisitions Indiana Midwest Multifamily

Capstone Apartment Partners Brokers $32.2M Sale of Apartment Property in Fort Wayne, Indiana

by Kristin Harlow February 5, 2019

FORT WAYNE, IND. — Capstone Apartment Partners has brokered the sale of Three Rivers Apartments in Fort Wayne for $32.2 million. New York-based real estate investment firm Besyata purchased the 371-unit apartment property from VTT Management. Built in 1966, the community features a pool, sauna, on-site convenience store, business center and two fitness centers. The property was 94 percent occupied at the time of sale. Monthly rents average $822. A.J. Klenk, Stasiu Geleszinski, Sherief Gouda, Nathan Murphy and Bryse Toothaker of Capstone Apartment Partners brokered the sale.

February 5, 2019

Indiana Loans Midwest Multifamily Seniors Housing

KeyBank, Cain Brothers Secure $27.8M Construction Financing for Assisted Living Facility in Indiana

by Kristin Harlow February 1, 2019

MISHAWAKA, IND. — KeyBank Real Estate Capital and Cain Brothers worked together to secure financing for the construction of Hellenic Senior Living of Mishawaka, an affordable assisted living facility near South Bend. The budget was approximately $28 million and included multiple funding components of debt and equity. Cain Brothers served as the sole managing underwriter of an $18.5 million tax-exempt bond issue that provided nonrecourse construction and permanent financing at a long-term fixed rate of 5.75 percent. In addition, the National Development Council (NDC) provided $9.3 million in low-income housing tax credit (LIHTC) equity. AHEPA National Housing Corp. is developing the 136-unit property, which will consist of 55 studio apartments and 81 one-bedroom units within a 113,000-square-foot building. All of the units will be reserved for tenants whose household income does not exceed 60 percent of the area median income. The monthly charges for the Medicaid waiver units will range from $2,881 for a studio to $3,378 for a one-bedroom unit.

February 1, 2019

Development Indiana Midwest Multifamily

Waypoint Residential to Develop 214-Unit Apartment Project in Jeffersonville, Indiana

by Kristin Harlow January 25, 2019

JEFFERSONVILLE, IND. — Waypoint Residential LLC is developing The Walcott Jeffersonville, a 214-unit apartment project in Jeffersonville, just north of Louisville. The project will be located in the Old Jeffersonville Historic District opportunity zone. The Walcott will include a mix of studio, one- and two-bedroom units. Community amenities will include a resort-style pool, fitness center, Internet café, rooftop terrace and pet spa. Completion is slated for mid-2020.

January 25, 2019

Acquisitions Indiana Midwest Office

Colliers Brokers Sale of Seven-Building Office Portfolio in Indianapolis

by Kristin Harlow January 11, 2019

INDIANAPOLIS — Colliers International has brokered the sale of Commerce Park, a seven-building office portfolio in Indianapolis. The sales price was not disclosed. The portfolio totals 133,749 square feet and is located off 86th Street. The buildings are home to a variety of healthcare, construction and professional services tenants. Alex Cantu and Alex Davenport of Colliers represented the seller, Orton Development Inc. Ziff Properties Inc. purchased the portfolio.

January 11, 2019

Indiana Loans Midwest Multifamily

Dwight Capital Provides $38.8M Refinancing for Apartment Property in Terre Haute, Indiana

by Kristin Harlow January 9, 2019

TERRE HAUTE, IND. — Dwight Capital has provided a $38.8 million HUD 223(f) loan for the refinancing of Cobblestone Crossings Apartments in Terre Haute. The 448-unit apartment property was built in multiple phases between 2006 and 2014. The Energy Star-certified property qualified for HUD’s green program and a reduced interest rate. Josh Hoffman and Kevin Lifshitz of Dwight originated the loan on behalf of the borrower, an investment company based in Terre Haute.

January 9, 2019

Development Healthcare Indiana Midwest

Cornerstone Cos. Completes Construction of 30,325 SF Dermatology Center in Indianapolis

by Kristin Harlow January 9, 2019

INDIANAPOLIS — Cornerstone Cos. Inc. has completed the construction of a 30,325-square-foot dermatology center in Indianapolis. Dawes Fretzin Dermatology Group occupies the two-story building. The company has three additional locations in Indiana. The facility includes medical equipment and offices, reception areas and a dedicated children’s waiting area. The surgery treatment center offers patients Mohs Micrographic surgery, a specialized technique for the removal of skin cancer. Cornerstone served as the developer and general contractor for the yearlong construction project.

January 9, 2019

Acquisitions Indiana Midwest Retail

ACH Purchases 77,871 SF Shopping Center in Muncie, Indiana

by Kristin Harlow January 2, 2019

MUNCIE, IND. — Albanese Cormier Holdings (ACH) has purchased Muncie Marketplace for an undisclosed price. Built in 2014, the 77,871-square-foot shopping center is located at 600 E. McGalliard Road in Muncie. Dick’s Sporting Goods, Michaels, Five Below, McAlister’s Deli, Men’s Wearhouse, Kay Jewelers and GameStop fully occupy the property. Amy Sands and Clinton Mitchell of HFF represented the undisclosed seller.

January 2, 2019

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