SBV Communities Purchases 384-Unit Multi-Family Complex in Indianapolis
Indianapolis’ Tikijian Associates recently arranged the sale of Hillcrest Woods, a 384-unit apartment community located on the northeast side of Indianapolis. Hillcrest Woods sits on 62 acres of heavily wooded hills, a rarity in central Indiana.
Tikijian Associates represented Miami-based LNR Partners, a national special servicer that acted on behalf of the property’s lender following a mortgage foreclosure. The property had been managed by Indianapolis-based Buckingham Companies on behalf of LNR since the spring of 2011.
The sale of the property closed March 1.
The buyer was SBV Acquisitions, a Kansas City-based owner of multi-family properties in Georgia, Florida, Kansas, Missouri, Tennessee and Texas.
Source and credit: REJournals.