Standard Real Estate Investments Launches Business, Provides Equity for Indianapolis Multifamily Project
INDIANAPOLIS — Standard Real Estate Investments LP, a minority-owned real estate private equity firm focused on providing joint venture equity to developers, formally launched its business on Wednesday, Aug. 25. The company closed a majority equity investment in a 244-unit multifamily project located at 75 W. 18th St. in downtown Indianapolis. Construction recently began on the development, but a timeline for completion was not disclosed.
Standard, and its Indianapolis-based joint venture partner Arrow Street Development, will build Wesley Place Apartments on the two-acre site, which is located within walking distance of the Indiana University Health Methodist Hospital. Plans call for four stories of apartments above a single-level retail and parking podium.
Robert Jue and Jerome Nichols, formerly with CBRE Global Investors, are leading the new company. Standard aims to have $200 million of assets under management within 12 months through investments in four development projects.