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Dec. 5, 2013

HFF Markets Indianapolis Multi-Housing Communities on Behalf of Milhaus

by Adriana Pop, Associate Editor

Milhaus Ventures has retained HFF to market for sale two of its newly constructed multi-family communities, the 384-unit Solana Apartments at the Crossing in Indianapolis and the 193-unit Penn Circle Apartments in Carmel.

The properties are being marketed without an asking price and can be purchased individually or as a portfolio on an “all cash” basis, HFF said in a news release.

Located at 7745 Solana Drive, about 10 miles north of the city’s downtown, Solana Apartments at the Crossing will be delivered in two phases. The first 336 units are scheduled for completion in December 2013 and the remaining 48 units will be ready for occupancy by April 2014.  

Spreading across 55.5 acres, the property offers a 26-acre lake, as well as direct access to the White River. The apartments range in size between 536 square feet for a studio to 3,058 square feet for a three-bedroom. Amenities include a resort-style swimming pool, private cabanas, a clubhouse, a state-of-the-art teaching kitchen, fitness center, yoga room, media lounge, business center, outdoor theater, fitness trails and a watercraft launch area.

Penn Circle Apartments is located at 12415 North Pennsylvania Street in Carmel, approximately 14 miles north of downtown Indianapolis. Completed this year, the property is already 96 percent leased. It offers a mix of one- and two-bedroom units with an average size of 920 square feet. Residents have access to a resort-style swimming pool, 24-hour fitness center, a clubhouse, outdoor kitchen with fireplace, gaming area, business center and complimentary bike rentals for use on the nearby Monon Greenway bike path.

Associate Director Wick Kirby along with Executive Managing Director Matthew Lawton, Associate Director Ken Martin and Senior Managing Director Dave Keller are part of the HFF investment sales team representing Milhaus Ventures.

The company’s other recent projects in Indianapolis include Artistry, a mixed-use, multi-phase development connecting downtown and the Cole Noble District, the Circa Apartments at the former Mitchell & Scott industrial site, as well as the Mozzo apartments located in the city’s Italian neighborhood of Holy Rosary.

Photo credits: www.milhaus.com

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