GREENWOOD, IND. — RailField has acquired The Hangar on Emerson, a 218-unit property located at 1140 Emerson Pointe Drive in Greenwood, which is 14 miles south of Indianapolis. The seller and sales price were not disclosed. The acquisition marks RailField’s entry to the Midwest. The Bethesda, Maryland-based investment and asset-management firm owns multifamily communities in 12 markets primarily in the mid-Atlantic, the Southeast and in Texas.
The Hangar on Emerson was named for its proximity to the Indy South Greenwood Airport. Built in 2023, the community consists of three mid-rise buildings. Units come in one-, two- and three-bedroom floor plans. Amenities include a clubhouse, fitness center, yoga room, controlled access, private garages, courtyard, pet park and dog spa, outdoor kitchens with gas grills and a pool with cabanas.