RevCT Acquires Pair of Indiana Workforce Housing Properties
Private real estate investment firm Revitate Cherry Tree (RevCT) acquired Walnut Trails, a 210-unit garden-style community in Elkhart, IN for $22.5 million and Beech Grove, a 182-unit community in Jeffersonville, IN for $22 million. The sellers weren’t disclosed.
RevCT general partnerChris Marsh said the acquisitions advance the company’s overall strategy of preserving and enhancing workforce housing opportunities for families across the Midwest.
“While the Sunbelt has been an increasingly popular geographic focus for multifamily investors over the last several years, many have overlooked key regions of the Midwest, which are displaying promising demographic and employment growth trends,” said Marsh. “We are increasingly seeing an influx of new residents to the region, drawn by employment opportunities, attainable housing, and a diverse array of living amenities.
“These strong market fundamentals position Midwest multifamily communities to benefit from favorable supply demand characteristics and achieve long-term value and returns for our investors.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!