Capital 8 Group Makes First Foray in Indiana
- May 16, 2016
Indianapolis –Tikijian Associates has arranged the sale of Aspen Chase Apartments, a 130-unit apartment community located on the northwest side of Indianapolis. Terms of the transaction, which closed in April, were not disclosed.
Tikijian Associates represented the seller, Greater Vision IV LLC, a syndication of investors from Indianapolis and California.
The buyer is Capital 8 Group LLC a Denver, Colo., multifamily owner with properties in Colorado and Texas. The purchase of Aspen Chase marks the buyer’s first acquisition in Indiana. Indianapolis-based Milhaus Management will manage the property for the new owner. During the seller’s ownership, the community was managed by James Management Group, also of Indianapolis.
Aspen Chase Apartments was built by Gene B. Glick Co. in 1981 and was purchased by Greater Vision IV in 2006. Amenities include a swimming pool with sun ledge, playground, mature landscaping and green space, as well as on-site laundry facilities.
In another recent transaction, Tikijian Associates also arranged the sale of Cumberland Pointe Apartments, a 336-unit multifamily community located in Noblesville, Hamilton County.
Image courtesy of Tikijian Associates