Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Luxury Residential Building in Downtown Indianapolis Sells
Standard Real Estate Investments and Arrow Street Development have closed on the sale of Wesley Place, the only luxury residential building in Downtown Indianapolis’ Medical District.
The 244-unit apartment building at 75 West 18th St. was built in 2023 as part of Standard’s strategic investment program with Belay Investment Group, LLC. The seller was represented by a JLL Chicago team of Amanda Friant, Ken Martin, Mark Stern, Zach Kaufman and Sam Grohe.
Wesley Place is located on a 2.1-acre site within walking distance of Indiana University Health Campus, a $4.3 billion expansion and redevelopment that broke ground in 2022. The community is 91 percent leased and offers thoughtfully designed studio, one-, and two-bedroom apartments and a robust amenities package. Wesley Place includes 3,000 square feet of street-level retail space and offers ample parking.
“We seized the opportunity to create much-needed housing by working with a thoughtful, local, experienced team through the life cycle of the asset,” said Robert Jue, CEO of Standard.
