Tikijian Associates late last year arranged the sale of River Walk Apartments, a 192-unit, 360-bed student property in Lafayette, Ind.
River Walk Apartments was developed in 2000. The property is located on North 9th Street in Lafayette, less than three miles from the Purdue Campus.
Tikijian Associates represented the receiver, Buckingham Management, LLC. In the late summer of 2011, Buckingham was appointed by the court as receiver and also managed the property until the sale closed in December of 2012.
The buyer was Hunter Properties, a real estate investment and development firm headquartered in Evanston, Ill.
Tikijian Associates began marketing River Walk in late July of 2012 with an offering price of $10 million. Following the property marketing, Hunter Properties was selected as the successful bidder from a large group of offering parties and closed the transaction on Dec. 28, 2012.