Indiana

Avanza-Noblesville
Build-to-RentDevelopmentIndianaMidwestNews

Trinitas-Led JV Breaks Ground on Avanza at Hyde Park in Noblesville, Indiana

by Lynn Peisner

NOBLESVILLE, IND. — PCCP, Trinitas Ventures and Peninsula Investments have broken ground on Avanza at Hyde Park, a 237-unit build-to-rent (BTR) project in the Indianapolis suburb of Noblesville. Completion is slated for fall 2027. This is the first project bearing Trinitas’ new Avanza brand. The community will consist of one-, two- and three-bedroom villas and two- or three-bedroom townhomes situated on 25.5 acres. Homes will feature fenced backyards, double vanities in primary bathrooms, in-unit washers and dryers, stainless steel appliances and quartz countertops. Amenities include private conference rooms and a …

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DevelopmentIndianaMidwestNews

Thompson Thrift to Develop Revere in Indianapolis Metro

by Lynn Peisner

WESTFIELD, IND. — Locally based Thompson Thrift has broken ground on Revere, a 350-unit project in Westfield, 27 miles north of Indianapolis. Completion is slated for February 2027. The 23-acre community will feature units in one-, two- and three-bedroom configurations. The residences will be spread over six buildings, including four three-story garden-style buildings and two four-story elevator-serviced buildings. Amenities include a fitness center; a resort-style, heated pool; electric firepits with seating areas; a dog park and pet spa with a grooming station; grilling areas; and a business center with a …

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Canopy-at-Babcock-Ranch
Company NewsFloridaIndianaMidwestNewsOperationsSoutheast

Milhaus Acquires Property Management Division of ContraVest

by Lynn Peisner

ALTAMONTE SPRINGS, FLA. — Milhaus, an Indianapolis-based developer, owner and property manager, has acquired the property management division of Altamonte Springs-based developer ContraVest, marking Milhaus’ entry into the third-party property management business and expanding its presence in Florida. Under the agreement, Milhaus will assume residential management at eight multifamily properties. Skyhawk Capital Advisors acted as financial advisor to ContraVest in the transaction. In Florida, Milhaus has developed and manages Canopy at Babcock Ranch, as well as projects in Tampa, such as The Hite and Notch Apartments, Lector 85 and Artistry …

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Versa-Indianapolis
DevelopmentIndianaMidwestNews

Milhaus and Partners Complete Versa in Indianapolis

by Lynn Peisner

INDIANAPOLIS — Milhaus, Gershman Partners and Citimark have opened Versa, a 232-unit community in the Broad Ripple neighborhood of Indianapolis. Located at 6220 Guilford Ave., Versa is comprised of studio, one-, two- and three-bedroom units, including three penthouse apartments with panoramic views of Broad Ripple Avenue. The development also offers 245 parking spaces, 4,000 square feet of retail space and a rooftop deck. Architecture and interior design was provided by DKGr. The property’s name was inspired by the phrase “vice versa.” Amenities include a clubhouse with a game room, a …

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Affordable HousingDevelopmentFinanceIndianaMidwestNews

KeyBank Provides $66 Million in Construction Financing for Indiana Affordable Housing Development

by Lynn Peisner

LAFAYETTE, IND. — KeyBank Community Development Lending and Investment (CDLI) has provided a $37.2 million construction loan, and Key Commercial Mortgage Group has arranged a $28.8 million permanent loan to finance the construction of Vita Lifestyle Lafayette. The 198-unit affordable housing development is located in Lafayette, approximately 60 miles northwest of Indianapolis. Vita Investment Holdings LLC has partnered with CRF Affordable Housing to develop the project. Vita Lifestyle Lafayette will consist of 159 affordable units and 39 market rate units, including one-bedroom, two-bedroom, and cottage-style units. Affordable units are restricted …

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Deer-Chase-Noblesville
IndianaInvestment SalesMidwestNews

Marcus & Millichap Arranges Sale in Metro Indianapolis

by Lynn Peisner

NOBLESVILLE, IND. — Marcus & Millichap has arranged the sale of Deer Chase, a 288-unit property in Noblesville, 34 miles northwest of Indianapolis. The seller was the unidentified original developer, and the buyer was an undisclosed, locally operated company. The property was built in 2004 on approximately 13 acres and includes a unit mix of two-, three- and four-bedroom floor plans, all of which feature private entrances, full-size washers and dryers and exterior storage space. A fitness center, pool, playground and sports courts are among the community’s amenities. The sales …

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The-Grand-on-Main
DevelopmentIndianaMidwestNews

BW Development, Skender to Break Ground on $105 Million Mixed-Use Project in Westfield, Indiana

by Lynn Peisner

WESTFIELD, IND. — BW Development will break ground later this year on The Grand on Main, a $105 million mixed-use development formerly dubbed Jersey 32. The builder is Chicago-based construction firm Skender, and the architect is Studio M Architecture and Planning. Completion is slated for 2027. The project, located in Westfield 20 miles north of Indianapolis, will include 216 multifamily units, 51,000 square feet of ground-floor retail and 15,000 square feet of office space. The plan to build a mixed-use site at the intersection of State Road 32 and Poplar …

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Whitman-Villas
Build-to-RentDevelopmentIndianaMidwestNews

EPM Breaks Ground on Whitman Villas

by Lynn Peisner

GREENFIELD, IND. — Locally based developer Equity Property Management (EPM) has broken ground on Whitman Villas, the second residential development in Hancock Gateway Park, a 200-acre, $460 million master-planned, mixed-use development in Greenfield, 25 miles west of Indianapolis. The project is named in honor of poet Walt Whitman and will consist of 108 rental townhomes offered in two- or three-bedroom floor plans. Completion is slated for spring 2026. Whitman Villas amenities will include a pickleball court, a clubhouse, fitness and business centers, a resort-style pool, grilling and gathering areas and …

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Village_on_Spring_Mill
FinanceGeorgiaIndianaKentuckyMidwestNewsOhioSoutheast

Buckingham Cos. Lands $330 Million Loan for Seven-Property Portfolio

by Lynn Peisner

INDIANAPOLIS — Indianapolis-based investor Buckingham Cos. has received a $330 million loan to refinance seven properties in five states. The New York-based CBRE Debt & Structured Finance team of Shawn Rosenthal, Jason Gaccione, Tom Traynor, Tom Rugg, Jake Salkovitz, Henry Fenmore, Lauren Weinstein and Justin Helbling arranged the floating-rate loan funded by Goldman Sachs and Atlas SP Partners. Buckingham’s portfolio comprises 2,381 units. The firm began acquiring the properties, which were constructed between 1982 to 2021, seven years ago and has invested approximately $45 million in capital improvements since then, …

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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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