The Ardizzone Group Sells Winchester Village Apartments in Indianapolis

By Adriana Pop, Senior Associate Editor

Indianapolis–Tikijian Associates has arranged the sale of Winchester Village Apartments on the south side of Indianapolis. The sale of the 96-unit apartment community closed on May 17.

Winchester Village

Tikijian Associates represented the seller, The Ardizzone Group, an Indianapolis-based owner and manager of multifamily properties. The buyer and new owner of Winchester Village is ROCO Real Estate.

The Ardizzone Group originally acquired the community in 2008 as part of a five-property portfolio that was purchased from AIMCO. During a more than seven-year ownership of Winchester, the company completed significant property improvements such as installing all new windows and patio doors and updating the clubhouse. As the owner and manager, The Ardizzone Group achieved many years of high occupancy and strong financial performance at the property. For the past four years Winchester Village has averaged an occupancy rate of more than 95 percent.

Based in Bloomfield Hills, Mich., ROCO owns and operates a portfolio of more than 85 properties consisting of approximately 15,000 multifamily units located throughout Indiana, Michigan, Mississippi, Alabama, Ohio, Georgia, Florida, Tennessee, Texas and Louisiana. The purchase of Winchester Village marks the company’s fourth acquisition in Indiana.

Tikijian has recently brokered the sale of Beechmill Apartments and Aspen Chase Apartments in Indianapolis, as well as the disposition of Cumberland Pointe Apartments in Noblesville, Hamilton County.

Image courtesy of Tikijian Associates