Indiana

Shubhra Jha
From the MagazinesIndianaMarket ReportsMidwest

‘Steady Eddie’ Reputation of Indianapolis is Well-Deserved

by Channing Hamilton

With a new presidential administration comes new policies and new economic uncertainties. But trying times such as these are no match for the consistency of the Indianapolis multifamily market. The metropolitan area’s “steady eddie” performance and resiliency during the tumultuous period of the COVID-19 pandemic has proven its staying power. Population, Job Growth Signal New Opportunities Metro Indianapolis, with a population base of 2.2 million people, experienced a sizeable population increase over the past four years. The metro area added more than 85,000 people during that period, with a good mix …

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The-Union
DevelopmentIndianaMidwest

Thompson Thrift Starts Final Construction Project at Indianapolis Mixed-Use Site

by Lynn Peisner

INDIANAPOLIS — Thompson Thrift has broken ground on The Union at Fishers District, the final phase of the developer’s master-planned development in the Indianapolis suburb of Fishers. This phase will include luxury multifamily as well as 57,000 square feet of retail, restaurant and entertainment space; 70,000 square feet of Class A office space; and a 135-room AC Hotel by Marriott. The multifamily component is called Union Flats. It is a 251-unit community with ground-floor retail space that is slated for completion by late 2026, which is approximately when the rest …

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Todd Sears, The Annex Group
IndianaMidwestNews

The Annex Group Hires Todd Sears as Chief Operating Officer

by Channing Hamilton

INDIANAPOLIS — The Annex Group has hired Todd Sears as Chief Operating Officer (COO). In this role, Sears will lead the development, construction and property management teams within the Indianapolis-based company. Sears has more than three decades of experience in real estate and finance leadership. He also serves as an adjunct faculty member of Butler University’s Lacy School of Business. CJ Lukaart, who previously served as COO, will also transition to become Chief Legal and Administrative Officer. He will lead the company’s legal, HR, IT and marketing teams.

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Cosmopolitan on the Canal
IndianaInvestment SalesMidwestNews

PRP Acquires Cosmopolitan on the Canal in Indianapolis

by Channing Hamilton

INDIANAPOLIS — PRP has purchased Cosmopolitan on the Canal, a 218-unit asset located in the Canal Walk District of downtown Indianapolis, for an undisclosed price. The property is situated in proximity to the $4.3 billion Indiana University Health expansion, as well as the Indiana University Indianapolis and Purdue University campuses. Cosmopolitan on the Canal was originally built in 2010. According to Apartments.com, the community features a mix of studio, one- and two-bedroom units. Amenities include fitness center, laundry facilities, a clubhouse, fitness center and lounge. PRP plans to renovate the property. The seller was not disclosed.

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Slate at Fishers District
Build-to-RentIndianaMidwestNews

Thompson Thrift Sells BTR Asset Near Indianapolis

by Channing Hamilton

INDIANAPOLIS — Thompson Thrift has sold Slate at Fishers District, a 242-unit build-to-rent (BTR) community in Fishers, about 21 miles northeast of Indianapolis. Bonaventure Holding Co. purchased the asset for an undisclosed amount. Slate at Fishers District was built on about 25 acres in 2024. The community offers one-, two- and three-bedroom villas, as well as three- and four-bedroom townhomes. The property was more than 90 percent occupied at the time of the sale. Amenities include a clubhouse, pool with cabanas, fitness center, bark park and pet spa. George Tikijian, …

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Matt Keane and Matt Zetzl
IndianaMidwestNewsPeople News

The Annex Group Adds Two Professionals to Public-Private Partnership Team

by Channing Hamilton

INDIANAPOLIS — The Annex Group has hired Matt Keane as vice president of public-private partnerships (P3) and promoted Matt Zetzl to the role of P3 development manager. Keane will provide business development and partnership solutions while leading the Indianapolis-based firm’s P3 team. Zetzl will be responsible for P3 procurement and advancing Annex’s P3 community impact plans.

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Autumn Breeze in Noblesville, Indiana
IndianaInvestment SalesMidwestNews

Lightstone Group Sells Property Near Indianapolis for $59.5 Million

by Channing Hamilton

NOBLESVILLE, IND. — Lightstone Group has sold Autumn Breeze, a 280-unit community in Noblesville, roughly 25 miles north of Indianapolis, to IRT for $59.5 million. Located at 14901 Beauty Berry Lane, the community offers a mix of one-, two- and three-bedroom floor plans. The average unit size is 1,066 square feet. The property was built in 2009. Amenities include a fitness center, pet spa, coffee bar, game room and outdoor pavilion. Hannah Ott, George Tikijian, Cam Benz, Clair Hassfurther, Ryan Stockamp and Sean Pingel of CBRE represented the seller in …

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Lakeside Gardens in Jeffersonville, Indiana
FinanceIndianaInvestment SalesMidwestNews

S&S Properties Acquires Property in Jeffersonville, Indiana, for $67.2 Million

by Channing Hamilton

JEFFERSONVILLE, IND. — S&S Properties has acquired Lakeside Gardens, a 360-unit asset located at 4101 Herb Lewis Road in Jeffersonville, just across the Ohio River from Louisville, Kentucky. A joint venture between Denton Floyd Real Estate Group, LDG Development and a private investor sold the property for $67.15 million. Built in 2022, Lakeside Gardens features a mix of one-, two- and three-bedroom units. The average unit size is 1,244 square feet. The community was 95 percent occupied at the time of sale. According to Apartments.com, residents have access to amenities …

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Wesley Place
IndianaInvestment SalesMidwestNews

Wesley Place in Indianapolis Medical District Trades Hands

by Lynn Peisner

INDIANAPOLIS — Standard Real Estate, Arrow Street Development and Belay Investment Group have sold Wesley Place, a 244-unit property to an undisclosed seller for an undisclosed cost. It was 91 percent leased at the time of sale. The property was developed in 2023 in downtown Indianapolis’ Medical District. It is within walking distance to Indiana University Health Campus, a $4.3 billion expansion and redevelopment that broke ground in 2022 and is expected to be complete, with medical offices and retail, by 2027. A JLL Chicago team of Amanda Friant, Ken …

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Federal Hill Apartments in Noblesville, Indiana
IndianaInvestment SalesMidwestNews

Old Town Cos. Sells 222-Unit Federal Hill Apartments Near Indianapolis

by Channing Hamilton

NOBLESVILLE, IND. — Old Town Cos. has sold Federal Hill Apartments, a 222-unit property in Noblesville, 23 miles north of Indianapolis, Indiana. Summit Equity Investments acquired the community for an undisclosed price. Hannah Ott, George Tikijian, Cam Benz, Clair Hassfurther, Ryan Stockamp and Sean Pingel of CBRE represented the seller in the deal. Built in 2024, Federal Hill Apartments offers a mix of studio, one- and two-bedroom units with an average size of 863 square feet. Amenities include a fitness center, pool, indoor pet grooming spa, electric vehicle charging stations …

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