RDG Funds has acquired the Coil Apartments, a Class-A grocer-anchored mixed-use asset in the Broad Ripple neighborhood of Indianapolis.
The Coil features 151 luxury apartments, a grocery space anchored by Fresh Thyme Farmers Market and a 332-space parking garage.
RDG, a private equity real estate firm based in Chicago, plans to operate the asset through its Select Core investment strategy, which targets stable and lower middle-market infill real estate opportunities.
RDG has retained Flaherty & Collins, a property management firm headquartered in Indianapolis, to assist with its business plan for the property.
Todd Stofflet and Jason Stevens of Cushman & Wakefield brokered this transaction. John Parrett and Molly Green of CBRE facilitated the financing.
