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Chicago & Midwest  + Midwest  + Apartments  |  June 14, 2024
Jasmine Kilman
By: Jasmine Kilman

CBRE Arranges $7.6M Sale of MF Property in Indiana

CBRE today announced the $7.6 million sale of 451 Lebanon, a newly constructed luxury apartment building located at 451 North Lebanon Street in Lebanon, Indiana. Investor Sean Gallagher acquired the high-end, 39-unit rental property from Iron Men Properties as an investment.

The Indianapolis-based CBRE team comprised of Cam Benz, George Tikijian, Hannah Ott, Claire Bullard, and Ryan Stockamp spearheaded the marketing campaign for the property and represented the seller in the negotiations. CBRE also procured the buyer.

“We had strong interest among buyers given the asset is high quality new construction in the heart of downtown Lebanon,” said Mr. Benz. “The area is experiencing a surge of growth due to the LEAP District and Eli Lilly’s $6 billion investment. The new ownership is extremely excited about all the future developments in the market and will continue to operate the property at the highest level.”

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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