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Indianapolis Multifamily Changes Hands at Nearly 100% Occupancy
Tikijian Associates, which focuses on Indiana multifamily, has arranged the sale of Fountain Parc Apartments, a 240-unit community on the north side of Indianapolis. The brokerage firm represented the seller, an affiliate of the Neil family that owned and managed Fountain Parc for almost 15 years, and procured the buyer, an affiliate of Barratt Asset Management. Terms were not disclosed.
The property has had a history of high occupancy. With the exception of units in the process of being turned, the property had been virtually 100% occupied with a waiting list for more than four years prior to the sale.
The company plans to perform significant upgrades of amenities and unit interiors, and will oversee the renovations and management internally.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

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