TIKIJIAN ASSOCIATES BROKERS APARTMENT COMMUNITY/RETAIL SALE
INDIANAPOLIS — Tikijian Associates has brokered the sale of Michigan Apartments & Plaza, a 253-unit apartment community and 15,000-square-foot retail center located near Michigan Street and Holt Road in Indianapolis. Apartment Investment and Management Co. (AIMCO) sold the property to GenNX Properties, an Indiana-based private investor, for an undisclosed amount. GenNX Properties plans to renovate approximately one-third of the apartment units and perform significant renovations of the retail center. Indianapolis-based Tikijian Associates represented AIMCO in the transaction.