Cushman & Wakefield represented Tempest Homes in the $21.5 million disposition of Avalon Bluffs, a single-family build-to-rent community in Lafayette, Indiana.
Cushman & Wakefield’s Hannah Ott, George Tikijian, Cameron Benz and Claire Bullard represented Lafayette-based Tempest in its sale to Hunter Properties. The transaction marks the first purpose-built, build-to-rent multifamily investment sale in Indiana.
Upon completion, Tempest Homes delivered 93 units averaging 1,494 square feet at Avalon Bluffs. Phase I included 34 units and closed in June, while phase II included 26 units and closed in July. The remaining 33 homes in Avalon Bluffs closed in September.
The community is located in the Greater Lafayette Area, between Indianapolis and Chicago, and is within 15 minutes of healthcare, education and employment centers such as Purdue University, IU Health Arnett Hospital and Franciscan Health East Lafayette Hospital.
What’s more, Avalon Bluffs’ surrounding community offers exceptional demographics, with average household incomes within one mile of $113,000, with that figure expected to increase 18% over the next five years. The surrounding population has increased 50% since 2010.
