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Westminster Village

Indianapolis-based Tikijian Associates recently handled the sale of Westminster Apartments, a 438-unit community located in Greenwood, Ind., a southern suburb of Indianapolis.

Tikijian Associates represented the seller/receiver, Barrett & Stokely, on behalf of special servicer Midland Loan Services. The listing price was $8.2 million.

Westminster Apartments was purchased by Van Rooy Properties, an Indianapolis-based owner that currently owns or manages about 10,000 apartment units and 250,000 square feet of office and retail space. With more than 25 years of experience, Van Rooy Properties is skilled in both property management and rehab projects, and plans to complete an extensive rehab of Westminster Apartments.

The company’s planned improvements include new roofs and windows; major plumbing upgrades; asphalt repair; common area hallway renovation; complete interior unit updates including new kitchens, bathrooms, cabinetry and flooring; renovation of the existing clubhouse; and the addition of a community fitness facility.

Tikijian Associates’ marketing of Westminster Apartments drew significant interest, generating more than 25 offers.

Tags | Greenwood, Indiana, Indianapolis, multi-family, Tikijian Associates, Westminster Village

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