Multifamily O Indiana

Cushman & Wakefield sells 184-unit apartment building near Indianapolis

Cushman & Wakefield sells 184-unit apartment near Indianapolis,ph01

A southeast Indianapolis apartment sale was so appealing to both sides, it only took two weeks to close.

Cushman & Wakefield’s Indiana Multifamily Team, including George Tikijian, Hannah Ott and John Baker, represented seller Birge & Held in the sale of the 184-unit Pheasant Run Apartments at 7925 Palawan Drive in Warren Township, on the northeast quadrant of Interstate 465 and Highway 52.

The deal closed June 27, just 13 days after an initial purchase agreement had been reached. The buyer is Hamilton Point Investments, a Connecticut-based a real estate private-equity investment company specializing in multifamily properties.

Hamilton Point plans strategic common area and exterior improvements to the property, including new LED lighting, new landscaping and a clubhouse refresh. Individual units will also see a light value-add program, with new appliances, flooring, counters, plumbing and more.