CBRE Arranges Sale of 438-Unit MF in Indiana

CBRE has arranged the sale of Westminster, a 438-unit multifamily property in Greenwood, Indiana. Monarch purchased the property from Van Rooy Properties for an undisclosed amount.

CBRE’s George Tikijian, Hannah Ott, Cam Benz, Claire Bullard and Ryan Stockamp represented the seller in the transaction. “This marks a full investment cycle for Van Rooy, who acquired the property in 2010 and undertook significant renovations shortly thereafter,” said Tikijian. “After 14 successful years of managing Westminster, Van Rooy is now exiting and transferring a meticulously maintained asset to Monarch.”

Westminster is located at 921 Parliament Place, at the high-traffic intersection of County Line Road and U.S. Highway 31. The residence features an all-brick exterior and a mix of townhomes and flats, offering one-, two-, and three-bedroom layouts averaging 918 square feet.

The property was built in 1971 and has undergone extensive renovations totaling nearly $20 million since 2014, including upgrades to all unit finishes and modernization upgrades to its clubhouse.

The post CBRE Arranges Sale of 438-Unit MF in Indiana appeared first on Connect CRE.