Property Description:

Executive Summary

• The asset is being acquired for $5 million from a distressed seller and will be delivered 100% vacant at closing — providing a rare blank-slate repositioning opportunity with no legacy tenants, deferred rent, or relocation issues.
• Our business plan involves executing a comprehensive renovation of all 198 units and common areas over an 18-month period, a full lease-up will occur as we deliver units.
• Renovations will focus on modernizing unit interiors, improving building systems, and enhancing curb appeal.
• We are proud to partner with Donovan Goodreau, a seasoned local developer who formerly led JG2 Companies and brings deep operational and construction expertise across the Indianapolis region. Donovan has successfully repositioned multiple multifamily assets in the submarket — and will serve as our boots-on-the-ground partner to ensure cost control, timeline adherence, and successful lease-up execution.