J.C. Hart Acquires 102-Unit Indianapolis Community

Built in 2016, The Flats at Switch offers more than 9,800 square feet of retail space and was more than 90 percent occupied as of June.
Flats at Switch
Flats at Switch

Tikijian Associates has secured the sale of Flats at Switch, a 102-unit community in Fishers, Ind. According to Yardi Matrix data, J.C. Hart Co. acquired the asset for $14.3 million from a joint venture between TWG Development and Loftus Robinson.

Located at 9 Municipal Drive, the two four- and five-story buildings offer convenient access to various dining, shopping and entertainment venues, such as Thomas A. Weaver Municipal Complex, Target, Starbucks, McDonald’s and Hamilton East Public Library Fishers. Additionally, the Fishers Train Station is a two-minute walk away.

Completed in 2016, The Flats at Switch consists of a mix of studios, one- and two-bedroom units ranging from 507 to 1,624 square feet. Common-area amenities include:

  • fitness center
  • grilling area
  • Wi-Fi lounge
  • parking garage
  • clubhouse

Additionally, more than 9,800 square feet of retail space is available on site. As of June, the community was 93.1 percent occupied and had an average rental rate of $1,281, Yardi Matrix data shows. In May, Tikijian represented the seller, a Cincinnati-based company, in arranging the sale of a 306-unit luxury property, also located in Fishers.

Image courtesy of Yardi Matrix