Multifamily news in Marketing - Indianapolis

  • HFF Markets Indianapolis Multi-Housing Communities on Behalf of Milhaus

    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.

  • Pangea Achieves 90% Occupancy in Record Time for Two Turn Around Properties

    Pangea Properties, a private real estate investment trust based in Chicago, has announced that, after having made significant property improvements, it has achieved 90 percent occupancy for two of its recently acquired Indianapolis communities. The company purchased both 109-unit Pangea Courts and 120-unit Pangea Riverside in 2012.

  • Radco Cos. Acquires Receiver-Managed Property for $16.5M

    The RADCO Companies has announced the acquisition of the Lakewood Lodge multifamily community in northern Indianapolis. The Atlanta-based company purchased the 454-unit property from its lender, the Lehman estate for $16.5 million.

  • Hertz Investment Acquires 650,000 SF Office Property in Indianapolis

    Hertz Investment Group of Santa Monica, CA has closed on the purchase of the 650,000 square-foot Capital Center Office Tower Complex in Indianapolis from Invesco Real Estate. The local office of CBRE represented the seller in the transaction. According to the Indianapolis Business Journal, the complex is the 12th-largest in the city and the fifth-largest downtown. Located on Illinois Street, between Ohio and New York streets, the two-building Class A office property is comprised of the 17-story North Tower and the 22-story South Tower. Amenities include an underground parking structure with 525 spaces, two restaurants, conference facilities, a sundry shop, a coffee shop and a fitness center.

  • Vista Capital Arranges $7.7M CMBS Loan for Extended-Stay Property in Indianapolis

    Vista Capital Company has negotiated and closed $7.7 million of financing for the five-story Staybridge Suites hotel in downtown Indianapolis. The 10-year CMBS loan was provided by a European-based group of investors who were attracted by the market and by the strong performance of the asset. The extended-stay, InterContinental-branded hotel was built in 2000 by its current owner. The property offers 146 rooms, along with a variety of amenities, including a business center, a fitness center and an indoor pool.

  • Steak n Shake to Acquire Historic Office Building in Downtown Indianapolis

    The sale of the historic Ober Building in downtown Indianapolis has been approved by the Metropolitan Development Commission on behalf of the Capital Improvement Board of Marion County. According to the Indianapolis Business Journal, an affiliate of the locally based Steak n Shake restaurant chain will pay $3.8 million to purchase the 62,500-square-foot office building and another $2 million for improvements. Steak n Shake plans to move its headquarters to floors three through six in the six-story Ober Building located at 107 S. Pennsylvania St. The company’s local offices are currently in the Century Building on the opposite corner of Pennsylvania and Maryland streets.