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| Wick Kirby |
CHICAGO, IL – HFF announced it has closed the sale of Solana
Apartments at the Crossing, a 384-unit, Class A multi-housing community
located to the north of downtown Indianapolis.
HFF
marketed the property on behalf of Milhaus.
Inland Real Estate Acquisitions, Inc. purchased the asset for a total of
$60.5 million or $158,000 per unit.
Solana Apartments at the Crossing is located at 7745 Solana
Drive just off North Keystone Avenue near The Fashion Mall at Keystone and
Interstate 465. The project was
completed in April 2014 and is 95 percent leased.
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.
The HFF investment sales team representing the seller was
led by associate director Wick Kirby along with executive managing
director Matthew Lawton and director Ken Martin.
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| Matthew Lawton |
“This
residential community is ideally situated on 55 acres, approximately 10 miles
north of downtown Indianapolis and two miles south of Carmel’s premier office
corridor with close proximity to The Fashion Mall at Keystone and the Keystone
entertainment area,” said Mark Cosenza, vice president of Inland Real Estate
Acquisitions, Inc.
“The property also
includes a 26-acre lake offering residents boat slips and direct access to the
White River.”
“The Solana Apartments is a wonderful asset with unbeatable
amenities. Milhaus, known for providing
best-in-class rental communities, delivered a great product and execution on
this transaction,” said Lawton.
Milhaus 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. Milhaus is currently
developing, constructing, and managing multifamily and mixed-use projects
throughout the Midwest and Oklahoma.
www.milhaus.com.
 |
| Ken Martin |
Inland Real Estate Acquisitions, Inc. facilitates acquisitions for
various entities that are a part of The Inland Real Estate Group of Companies,
Inc. (“Inland”).
Headquartered in Oak
Brook, Ill., Inland has been ranked one of the largest shopping center owners
and managers in North America (Retail Traffic, May 2012) and the
fastest-growing acquirer of retail property in the U.S. (Chain Store Age, May
2013).
As of March 31, 2014,
Inland-sponsored companies owned and managed in total more than 65.1 million
square feet of diversified commercial real estate in 49 states, as well as
managed assets in excess of $16.4 billion.
Inland is comprised of a group of independent legal entities some of
which may be affiliates, share some common ownership or have been sponsored and
managed by Inland Real Estate Investment Corporation or its subsidiaries. For additional information, please refer to
Inland’s website at www.inlandgroup.com.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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