BLOOMINGTON, IND. — FM Capital has acquired a 408-bed student housing portfolio near Indiana University. The purchase price was not disclosed. The portfolio consists of five buildings adjacent to campus and downtown Bloomington. FM Capital plans to upgrade the properties with amenities such as advanced roommate matching, high-speed internet, spacious lounge and study areas, business-class printing options, events, job fairs and full concierge services accessed through a mobile app.
INDIANAPOLIS — Dougherty Mortgage LLC has arranged a $26.6 million Fannie Mae loan for the acquisition of Coppertree Apartments, a 772-unit multifamily property located in Indianapolis. The property was built in 1969 and renovated in 2012. The seven-year loan features a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va. office for the borrower, Tanglewood Apartments LLC.
ELKHART, IND. — Marcus & Millichap has negotiated the sale of two manufactured home communities in Elkhart, 15 miles southeast of South Bend, for $24.4 million. Together, Parke Place Estates and Boardwalk Retirement Community feature 559 homesites on 155 acres. The properties are located at 2231 Osolo Road. Jonathon McClellan, Kyle Baskin and Michael DiCillo Jr. of Marcus & Millichap represented the undisclosed seller and procured the buyer, UMH Properties Inc.
INDIANA — SkyView Advisors has brokered the sale of R&R American ULock, a five-property portfolio of self-storage facilities located in northwest Indiana. The sales price was not disclosed. The properties total 164,640 square feet and consist of 916 non-climate controlled units. The facilities were built from 1989 to 2007. The units range in size from 60 to 880 square feet. Ryan Clark and Jay Crotty of SkyView Advisors represented the seller, DCG Enterprises LLC, as well as the undisclosed buyer.
CARMEL, IND. — CBRE Group Inc. has arranged the sale of Hamilton Crossing office park in Carmel, immediately north of Indianapolis. The sales price was not disclosed. The 44-acre office park is located along U.S. 31. The property consists of six buildings and 591,387 square feet. The Class A office space is 88 percent occupied. An affiliate of Group RMC purchased the buildings. Duke Realty owned five of the buildings, while Bankruptcy Estate of ITT Educational Services was the owner of the sixth building. Dan Richardson, David Funke and Paul Lundstedt of CBRE brokered the transaction.
INDIANAPOLIS — Deerwood Real Estate Capital has arranged a $3.6 million loan for the acquisition of Washington Place in Indianapolis. The 100,000-square-foot retail property is located at 10105 E. Washington St. Tenants include HHGregg, Big Lots and Lumber Liquidators. Jeff Berger of Deerwood negotiated the 10-year, non-recourse loan on behalf of the borrower, ABS Management.
GARY AND PORTAGE, IND. — UMH Properties Inc. has acquired Boardwalk and Park Place apartment properties in Indiana for $24.4 million. Boardwalk is located in Gary and Parke Place is in Portage. The two communities contain a total of 559 units and are situated on approximately 155 acres. In conjunction with the acquisition, UMH obtained a $14.2 million Freddie Mac mortgage loan with Wells Fargo. The 10-year loan features a 4.5 percent interest rate and a 30-year amortization schedule.
NASHVILLE, IND. — Huff, Niehaus & Associates Inc. has brokered the sale of the Comfort Inn in Nashville, approximately 18 miles east of Bloomington, for $2.5 million. The 55-room hotel will be converted into a Quality Inn & Suites. The conversion is expected to be complete in April. Brandt Niehaus of Huff, Niehaus & Associates represented the undisclosed seller. NEER 2 LLC was the buyer.
CARMEL, IND. — Veritas Realty has negotiated leases for Planet Fitness and Homenclature at Merchant’s Square in Carmel, a suburb of Indianapolis. The shopping center is located at 2192 E. 116th St. Planet Fitness leased 16,860 square feet and Homenclature leased 8,181 square feet. Seth Biggerstaff and Amy Winchell of Veritas Realty represented the landlord, Ramco-Gershenson Properties LLC. Bart Jackson of Lee & Associates represented Planet Fitness, while Jeff Hubley of Midland Atlantic represented Homenclature. Planet Fitness is a franchise of fitness centers based in Newington, N.H. Homenclature offers both new and used furnishings for homes in offices. The company is headquartered in Valparaiso, Ind.
INDIANAPOLIS — Cushman & Wakefield has brokered the sale of Georgetown Commerce Park in Indianapolis. The sales price was not disclosed. The property consists of two buildings located at 7301 Georgetown Road. The property is 83 percent occupied by 19 tenants. Jeff Castell of Cushman & Wakefield represented the sellers, Mann Properties and GCP Investments. Todd Vannatta and Kevin Archer of Cushman & Wakefield will manage the leasing of 25,000 square feet of vacant space. Cushman & Wakefield will also manage both buildings, comprising 148,977 square feet. Congaree River LLC was the buyer.