CHICAGO – HFF announced today that it has been named to market for sale Solana Apartments at the Crossing, a 384-unit, Class A multi-housing community located to the north of downtown Indianapolis and Penn Circle Apartments, a 193-unit, Class A multi-housing community in Carmel, Indiana.
HFF is marketing the properties on behalf of Milhaus Ventures. The properties are being marketed without a formal asking price and can be purchased individually or as a portfolio on an “All Cash” basis.
Solana Apartments at the Crossing is located at 7745 Solana Drive just off North Keystone Avenue near Fashion Mall at Keystone and Interstate 465, approximately 10 miles north of downtown Indianapolis. The project is being constructed in two phases with the first 336 units scheduled for completion in December 2013 and the second 48 units scheduled for delivery in April 2014. Situated on 55.5 acres, the property includes a 26-acre lake offering resident boat slips and direct access to the White River. Community amenities include a resort-style swimming pool, private cabanas, clubhouse, state-of-the-art teaching kitchen, fitness center, yoga room, media lounge, business center, outdoor theater, fitness trails and a watercraft launch area.
Penn Circle Apartments is located at 12415 North Pennsylvania Street just off U.S. Highway 31 in Carmel, approximately 14 miles north of downtown Indianapolis. Completed in 2013, the 193-home community is 96 percent leased and includes one- and two-bedroom units with an average home size of 920 square feet. Community amenities include a resort-style swimming pool, 24-hour fitness center, clubhouse, outdoor kitchen with fireplace, gaming area, business center and complimentary bike rentals for use on the nearby Monon Greenway bike path.
The HFF investment sales team representing the seller is led by associate director Wick Kirby along with executive managing director Matthew Lawton, associate director Ken Martin and senior managing director Dave Keller.
Milhaus Ventures is a team of inspired and industrious individuals, headquartered in Indianapolis, who are committed to the development of mixed-use and multifamily real estate. The company delivers solutions for its urban neighborhoods, cities and partners by providing expertise in real estate investment, development and management. www.milhausventures.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.