Cushman & Wakefield represented Reinbrecht Homes in its sale of Circle Point Villas in Princeton, Indiana, to a joint venture of JMF Capital and Yellowstone Property Group.
Cushman & Wakefield Executive Vice Chairs George Tikijian and Hannah Ott and Director Cameron Benz represented Reinbrecht Homes in the transaction. The deal marks the first investment sale of a purpose-built, build-to-rent community (BTR) in Indiana.
Located in the Evansville, Indiana, MSA, Circle Point Villas includes 125 units that average 1,220 square feet. Construction at the 19-acre development concluded this year.
Circle Point Villas offers spacious open layouts, direct access garages, green space, patio and front porch, laundry room with W/D and a full appliance package. With the expansion of Toyota’s nearby manufacturing operations and other economic drivers, average household income is expected to grow 10% in the next four years, a positive predictor for future rent growth.
