Berkadia closed the sale and financing of the H7 Portfolio, the largest multifamily sale in the state of Indiana to date and in the Midwest in 2019 by unit count.
Hampshire Properties, out of Brooklyn, New York, was the seller of the seven-property portfolio that totaled 1,842 units in Indianapolis and Fort Wayne, Indiana.
Director Chris Bruzas, Associate Director Connor Boyer and Senior Managing Director Alex Blagojevich of Berkadia’s Mid-Markets Group secured the sale of the portfolio. Senior Managing Director Richard Levine and Managing Director Robert Lipson secured financing for the purchase of two of the properties in the portfolio.
“We saw some of the largest investors in the country looking at Indiana for the first time due to the pricing and scale of the portfolio,” said Bruzas. “The age, locations and upside demonstrate what the market is looking for today. We were able to parlay all of those rare opportunities in the seller’s favor.”