Indiana

RADCO Acquires 1,426-Unit Multifamily Portfolio in Suburban Indianapolis for $64M

by Kristin Harlow June 5, 2018

MERIDIAN HILLS, IND. — The RADCO Companies has acquired a portfolio of multifamily properties totaling 1,426 units near Meridian Hills, a northwest suburb of Indianapolis, for $64 million. The Class B and C properties have been reorganized into three properties known as Ashford Georgetown, Ashford Meridian Hills and Creekside at Meridian Hills. RADCO plans to spend over $27 million in capital improvements at the properties, which were built from 1968 to 1972. Units average 944 square feet. Community amenities include swimming pools, clubhouses, playgrounds, laundry centers and sport courts. RADCO Residential will manage the properties. The seller was not disclosed.

June 5, 2018

Indiana Leasing Activity Midwest Retail

Midland Atlantic Properties Completes Lease-up of Retail Property in Mooresville, Indiana

by Kristin Harlow June 4, 2018

MOORESVILLE, IND. — Midland Atlantic Properties has completed the lease-up of a former 55,000-square-foot grocery store in Mooresville, about 20 miles southwest of Indianapolis. The property is located at 435 Town Center Drive. Tracey Holtzman of Midland Atlantic Properties represented the landlord, Grenadier Indiana LLC, in the lease transactions. Tractor Supply Co. leased 23,556 square feet while Ollie’s Bargain Outlet leased 31,444 square feet.

June 4, 2018

Acquisitions Indiana Midwest Multifamily

UMH Acquires Two Manufactured Housing Communities in Anderson, Indiana for $20.5M

by Kristin Harlow June 1, 2018

ANDERSON, IND. — UMH Properties Inc. (NYSE: UMH) has acquired two manufactured housing communities in Anderson, about 40 miles northeast of Indianapolis, for $20.5 million. All totaled, the properties feature 669 developed home sites on approximately 231 acres. The average occupancy rate is 91 percent. UMH is a public traded REIT that owns and operates 114 manufactured home communities with approximately 20,600 developed home sites.

June 1, 2018

Acquisitions Indiana Industrial Lee & Associates Midwest

Lee & Associates Negotiates Sale of 20,786 SF Warehouse in Indianapolis

by Kristin Harlow May 31, 2018

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.

May 31, 2018

Indiana Midwest Multifamily Student Housing

Asset Campus Housing to Manage Two Student Housing Properties in South Bend, Indiana

by Kristin Harlow May 25, 2018

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.

May 25, 2018

Indiana Loans Midwest Multifamily Seniors Housing

Walker & Dunlop Arranges $17.3M Construction Loan for Assisted Living Facility in Indianapolis

by Kristin Harlow May 24, 2018

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.

May 24, 2018

Indiana Leasing Activity Midwest Retail

Healthy Smiles Northwest Indiana to Open at Mixed-Use Development in Portage, Indiana

by Kristin Harlow May 24, 2018

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.

May 24, 2018

Acquisitions Indiana Midwest Multifamily Student Housing

Preiss, TH Real Estate Acquire 472-Bed Student Housing Property Near Indiana University

by Kristin Harlow May 23, 2018

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.

May 23, 2018

Acquisitions Indiana Industrial Michigan Midwest Net Lease Ohio

Global Net Lease Acquires Five Industrial Assets in Midwest for $83M

by Kristin Harlow May 18, 2018

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.

May 18, 2018

Acquisitions Indiana Midwest Multifamily

Emma Capital Purchases Three Apartment Properties in Indianapolis for $63.8M

by Kristin Harlow May 16, 2018

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.

May 16, 2018

Newer Posts

Older Posts