TIKIJIAN ASSOCIATES BROKERS TWO MULTIFAMILY SALES TOTALING 644 UNITS

INDIANAPOLIS — Indianapolis-based Tikijian Associates has brokered the sale of four apartment communities totaling 644 units in two separate transactions. In the first sale, Tikijian, along with CB Richard Ellis, represented an affiliate of Indianapolis-based Barrett & Stokeley in the sale of three apartment communities for more than $24 million. The properties were the 196-unit Muirwood Village located in Zanesville, Ohio; the 136-unit Sheffield at Sylvan located in Circleville, Ohio; and the 112-unit Residence at Newark located in Newark, Ohio. The buyers are affiliates of Pasadena, Calif.-based Evergreen Realty Group.
In the second sale, Tikijian represented Zidan Management Group in the sale of Stonegate Apartments, a 200-unit community located in Carmel, Ind. The property was acquired by Barrett & Stokeley, which plans to upgrade the property and combine marketing and operations with an adjacent apartment community that it owns. The sale price was undisclosed.