CBRE arranged the sale of Riverbend Apartments, a 996-unit multifamily property in Indianapolis. Pensam Capital purchased the property from Pepper Pike Capital Partners for an undisclosed amount.
CBRE’s Hannah Ott, George Tikijian, Cam Benz, Claire Hassfurther, Ryan Stockamp and Sean Pingel represented the seller in the transaction.
Riverbend Apartments is located at 8850 River Bend Parkway, just north of Interstate 465 along the White River and minutes away from several prominent retail venues within the 82nd Street Corridor, including The Fashion Mall at Keystone and Castleton Square. Since 2020, the property has undergone more than $20 million in extensive renovations, including new luxury-level finishes, fully upgraded kitchens and bathrooms, new roofing, refreshed hallways and fresh paint throughout.
Community and unit amenities include a resort-style swimming pool, hardwood plank flooring, a fitness center, tennis and basketball courts, a movie theater, detached garages, stainless steel appliances, a golf simulator and quartz countertops. The property features a range of one- and two-bedroom floor plans averaging 895 square feet.
