Tikijian Associates represented the seller in the sale of Mariner’s Village Apartments, a 244-unit community on the west side of Indianapolis. Mariner’s Village was built in 1978 and is located on a 60-acre lake.
Tikijian Associates represented the seller, Belgarde Enterprises. Belgarde is a 50-year-old privately held real estate firm based in Minneapolis.
The offering attracted tremendous interest from private equity investors located throughout the country. After receiving two pre-emptive offers, the seller selected a buyer and, remarkably, the transaction was completed within 30 days of the launch of marketing, and 18 days of the choice of a buyer.
The buyer was RBG Properties, a West Plains, Missouri-based investor with more than 20 years of experience in real estate development and apartment ownership and management. The acquisition represented the buyer’s second acquisition in Indianapolis.