Indiana

CBRE Arranges Sale of Three Multifamily Properties in Indianapolis Area for $69.1M

by Kristin Harlow September 26, 2017

INDIANAPOLIS — CBRE has arranged the sale of three multifamily properties in the Indianapolis area for $69.1 million. Steve LaMotte Jr. of CBRE represented the seller in each of the separate transactions. Philadelphia-based Gold/Oller retained a management interest in Lighthouse Landings, a 336-unit property completed in 2001. Covenant Capital acquired Columns of Castleton, a 398-unit property located on the northeast side of Indianapolis. CBRE represented the seller, Samuel Geltman & Co., which had owned the property for nearly 30 years. The community will undergo a full renovation, including possible construction of a clubhouse and amenity area. Sundance Bay LLC purchased Eagle Pointe Apartments, a 256-unit property located on the west side of Indianapolis. Gold/Oller was the seller.

September 26, 2017

Indiana Industrial Midwest

Ingram Micro Signs 592,800 SF Industrial Lease in Jeffersonville, Indiana

by Kristin Harlow September 26, 2017

JEFFERSONVILLE, IND. — Ingram Micro has signed a 592,800-square-foot industrial lease in Jeffersonville, three miles north of Louisville, Ky. The technology and supply chain services provider will fully occupy Gateway 600 within the River Ridge Commerce Center. The property is located on 40 acres at 250 Hilton Lane. VanTrust Real Estate developed the speculative building, which was completed earlier this year. Matt Hartlage and Jake Sturman of JLL represented the tenant in the lease transaction. Kevin Grove of CBRE represented the landlord.

September 26, 2017

Arizona Colorado Indiana Michigan Midwest Multifamily Oregon Student Housing Top Stories Washington Western Wisconsin

American Campus Communities Acquires 3,776-Bed Student Housing Portfolio for $590.6M

by Taylor Williams September 25, 2017

AUSTIN, TEXAS — American Campus Communities Inc. (NYSE: ACC) has acquired a portfolio of seven student housing properties totaling 3,776 beds across the Western and Midwestern United States for approximately $590.6 million. Affiliates of Milwaukee-based development firm and Core Spaces and Chicago-based DRW Real Estate Investments LLC sold the assets. All of the properties are associated with major universities, with enrollment averaging about 35,000 undergraduate and graduate students at each school. The company will invest about $8 million in up-front capital improvements to the portfolio. Two of the properties are stabilized: the 513-bed Hub Eugene and the 655-bed State, which service students at the University of Oregon and Colorado State University, respectively. The company acquired these assets in August for a combined $146.1 million. Another two of the properties, the 850-bed The James and the 248-bed Hub U District Seattle, are opening this fall. Those properties are located near the University of Wisconsin and the University of Washington, respectively. The final three properties, which total 1,500 beds, are all under construction and slated for fall 2018 delivery. They include Hub Ann Arbor, Hub West Lafayette and Hub Flagstaff, which offer housing to students attending the University of Michigan, Purdue University …

September 25, 2017

Indiana Loans Midwest Retail

CBRE Arranges $3.1M Refinancing of Retail Property in Indianapolis

by Kristin Harlow September 22, 2017

INDIANAPOLIS — CBRE has arranged a $3.1 million loan for the refinancing of Cherry Tree Crossing in Indianapolis. The 13,400-square-foot retail property is home to tenants such as QDoba Mexican Grill, Gentle Dentist and T-Mobile. Jason Brown and Dan Gable of CBRE arranged the 10-year loan, which includes a 30-year amortization schedule. EverBank provided the loan for the undisclosed borrower.

September 22, 2017

Indiana Loans Midwest Multifamily

CBRE Arranges $15M Refinancing for Apartment Property in Indianapolis

by Kristin Harlow September 20, 2017

INDIANAPOLIS — CBRE has arranged a $15 million Freddie Mac loan for the refinancing of Marina Apartments in Indianapolis. The apartment property, built in 1980, consists of 348 units. Jason Brown and Dan Gable of CBRE arranged the 10-year loan on behalf of the borrower, Zidan Management Group. The loan features a 30-year amortization schedule and a fixed interest rate of 4.2 percent.

September 20, 2017

Indiana Midwest Mixed-Use

HCP Acquires Former Coca-Cola Bottling Plant Site in Indianapolis

by Kristin Harlow September 7, 2017

INDIANAPOLIS — Hendricks Commercial Properties (HCP) has acquired the former Coca-Cola bottling plant site located at 850 Massachusetts Ave. in Indianapolis. The purchase price was not disclosed. The 12-acre site will be home to the $260 million mixed-use Bottleworks District development. Indianapolis Public Schools had previously owned the site and used it to house the school system’s bus maintenance operations. The bottling plant will soon be transformed into a development that will feature a 150-room boutique West Elm hotel, a nine-screen cinema, 180,000 square feet of office space, 200,000 square feet of retail space and a combination of apartments and condominiums. The project will occur over seven to 10 years in five phases, starting with the restoration and redevelopment of the historic Coca-Cola administration building and garages. HCP will begin phase I of Bottleworks in the spring of 2018, with plans to open the West Elm Hotel, food hall, cinema and more than 70,000 square feet of retail space by the end of 2019. The food hall will feature a community-focused marketplace, which will house independently owned Indianapolis businesses. Eppstein Uhen Architects and Indianapolis-based Ratio Architects will provide design services.

September 7, 2017

Indiana Midwest Office

Engineering Facility Solutions Completes HVAC Project for Office Property in Noblesville, Indiana

by Kristin Harlow September 5, 2017

NOBLESVILLE, IND. — Engineering Facility Solutions (EFS) has completed installation of a design/build HVAC project at the new headquarters of BlueSky Technology Partners in Noblesville, about 20 miles north of Indianapolis. BlueSky, an e-commerce consultancy, and BlueSky Digital, a digital marketing agency, will occupy the top two floors of the four-story, 42,000-square-foot building. The first level is set for use as a tenant restaurant space with outdoor seating. The second level is an open office space available for lease. EFS completed the project within a four-month design phase and a five-month installation. American Structurepoint + Interiors Group was the architect and Meyer Najem was the general contractor.

September 5, 2017

Hospitality Indiana Midwest

Home2 Suites by Hilton to Open in Terre Haute, Indiana

by Kristin Harlow September 1, 2017

TERRE HAUTE, IND. — Dora Hotel Co. LLC and Gibson Development LLC are developing a Home2 Suites by Hilton in Terre Haute, located in western Indiana. The 91-suite, extended-stay hotel will be located at 2625 S. Sycamore Crossing St. Amenities will include Wi-Fi, pool and deck, fitness room, guest laundry, grilling patio and outdoor lounge. The lobby will feature an open-area floor plan known as the Oasis, designed to alternate between a breakfast area and a workspace. First Financial Bank NA is providing construction financing. Completion is slated for September 2018.

September 1, 2017

Indiana Loans Midwest Retail

Associated Bank Provides $3.1M Acquisition Loan for Land Site in Hammond, Indiana

by Kristin Harlow September 1, 2017

HAMMOND, IND. — Associated Bank has provided a $3.1 million loan for the acquisition of a 1.4-acre land site located at 7905-17 Indianapolis Blvd. in Hammond, about 25 miles southeast of Chicago. The borrower, GW Properties, plans to build a multi-tenant retail building at the site. The 9,250-square-foot building will be divided into four retail spaces. Completion is slated for the second quarter of 2018. Brian Rogan of Associated Bank originated the loan.

September 1, 2017

Indiana Midwest Retail

Berengaria Development Acquires 277,000 SF Retail Center in Valparaiso, Indiana

by Kristin Harlow August 31, 2017

VALPARAISO, IND. — Berengaria Development LLC has acquired Porter’s Vale Shopping Center in Valparaiso in northwestern Indiana for an undisclosed price. The 277,059-square-foot shopping center is located along Highway 49. The property was 96 percent leased at time of purchase to tenants including Dick’s Sporting Goods, Five Below, Home Goods, Hobby Lobby, Party City, Cinemark, Kirkland’s, Gordman’s, McAllister’s Deli, Massage Envy and Mattress Firm. A 103,000-square-foot J.C. Penney shadow anchors the property. A 190,000-square-foot Meijer store will be completed in summer 2018. Paul Barile of Transwestern represented the undisclosed seller in the transaction.

August 31, 2017

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