JAE Property Group Buys Indy Community

The company purchased a 89-unit garden-style community from Barratt Asset Management, which had acquired the property in 2016 for $1.8 million.
White River Village

JAE Property Group has acquired White River Village, an 89-unit Class C garden-style community near Indianapolis, from Barratt Asset Management, according to Yardi Matrix. The seller picked up the property in early 2016 from a private investor for $1.8 million.

Berkadia’s Chris Bruzas and Alex Blagojevich represented the seller in the transaction.

Located at 1801 N. Madison Ave. in Anderson, Ind., the garden-style property is positioned just north of the Community Hospital Anderson, 40 miles northeast of Indianapolis via Interstate 69. A number of retailers and medical offices are in the immediate area.

The pet-friendly community’s six buildings contain a mix of one-, two- and three-bedroom units, with floorplans ranging from 365 to 1,800 square feet. Property amenities include a playground, laundry facilities and covered parking. As of October, the asset was 91 percent occupied, per Yardi Matrix data.

In August, local development firm J.C. Hart Co. purchased a 102-unit community in Fishers, midway between White River Village and Indianapolis.

Image courtesy of Yardi Matrix