Multifamily O Indiana

Tikijian Associates sells 240-unit apartment community near Indianapolis

  

Tikijian Associates recently negotiated the sale of the 240-unit LaCabreah Apartments in Brownsburg, Indiana, a growing suburban community just west of Indianapolis.

Tikijian Associates represented the seller, Domo Development, a developer of class-A luxury apartment communities with properties in the Indianapolis area and in Fort Wayne and Lafayette, Indiana.

LaCabreah began delivering units in early 2016 and experienced a successful lease-up, climbing above 90 percent occupancy by February of 2017. The community was managed for the seller by Indianapolis-based Flaherty & Collins.

The purchaser is a multifamily developer and operator based in Pittsburgh. The buyer owns more than 40 properties totaling about 9,000 units in 10 states.