Multifamily O Indiana

Tikijian Associates reps seller in sale of 240-unit apartment building in Indianapolis

Tikijian Associates sells 240-unit apartment building in Indianapolis,ph01
Tikijian Associates sells 240-unit apartment building in Indianapolis,ph01

Tikijian Associates closed the sale of Fountain Parc Apartments, a 240-unit multifamily community on the northeast side of Indianapolis.

Tikijian Associates represented the seller, Neil & Associates, which owned and managed Fountain Parc for 15 years.

Occupancy at the time of sale was nearly 100 percent, with a waiting list of more than four years.

The buyer is Barratt Asset Management, an Indianapolis-based private equity and property management firm. The buyer plans upgrades of amenities and unit interiors, and will oversee the renovations and management internally.