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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.