Tikijian Associates closed the sale of Fountain Parc Apartments, a 240-unit multifamily community on the northeast side of Indianapolis.
Tikijian Associates represented the seller, Neil & Associates, which owned and managed Fountain Parc for 15 years.
Occupancy at the time of sale was nearly 100 percent, with a waiting list of more than four years.
The buyer is Barratt Asset Management, an Indianapolis-based private equity and property management firm. The buyer plans upgrades of amenities and unit interiors, and will oversee the renovations and management internally.