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Chicago & Midwest  + Midwest  + Apartments  |  September 16, 2024
Jasmine Kilman
By: Jasmine Kilman

RailField Acquires First Midwest Property

CBRE has arranged the sale of The Hangar on Emerson, a 218-unit multifamily property in Greenwood. Railfield Partners purchased the property from The Garrett Companies for an undisclosed amount.

CBRE’s Hannah Ott, George Tikijian, Cam Benz, Claire Bullard and Ryan Stockamp represented the seller in the transaction.

“Despite interest rates remaining higher than expected in 2024, the Indiana multifamily market continues to see a large amount of interest from both local and national investors,” said Ott. “Suburban properties in high-growth locations are doing especially well, with The Hangar on Emerson alone receiving more than 20 offers while on the market.”

The Hangar on Emerson is located at 1140 Emerson Pointe Drive, just south of Indianapolis and proximate to the Interstate 65 and County Line Road intersection. Built in 2023, the property features a range of one-, two- and three-bedroom floor plans averaging 1,006 square feet.

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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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