Multifamily O Indiana

CBRE sells 400-unit apartment property near Indianapolis

CBRE sells 400-unit apartment property near Indianapolis,ph01

CBRE has arranged the sale of Waterside at Castleton, a 400-unit property on the northeast side of Indianapolis. Steve LaMotte, Jr., Executive Vice President, and Dane Wilson, Senior Vice President, in CBRE’s Indianapolis office represented the seller, Wilkinson Corporation and their partner BRT Apartments Corp., a publicly traded REIT.

The property was sold to Muesing Management in a transaction that closed Dec. 17, 2019. A purchase price was not disclosed.

Waterside at Castleton is located two blocks from Community North Hospital creating a rare suburban walk-to-work opportunity for Waterside residents. The property also enjoys proximity to one of Indianapolis’ most critical interchanges at 82nd Street/I-69.Waterside at Castleton was presented and bid as a full value-add acquisition opportunity.

The CBRE Indianapolis Louisville Multifamily Team has transacted over $2.4 billion since 2014.