Indianapolis, IN, June 2, 2016 – CBRE Group, Inc. announced today that it completed the sale of 82 Flats at the Crossing, a 232-unit trophy apartment community located on the north side of Indianapolis. CBRE Capital Markets’ Central Midwest Multifamily team represented Cityscape Residential, an Indianapolis-based developer who originally built the property in 2013. The buyer was an Indianapolis-based private investor.
82 Flats sits at the epicenter of Keystone at the Crossing, a compact and ultra-premium region known as the “Magnificent Mile”, which contains the city’s most lavish collection of high-end shopping, exquisite dining, and lakefront estate homes. The area surrounding 82 Flats enjoys some of the strongest demographics in the Indianapolis MSA. Its combination of opulent interior and exterior finishes, a richly furnished club-like amenity center and a dense, sophisticated design, place 82 Flats at the pinnacle of Indianapolis apartment living.
The sales price for the property was not disclosed.
CBRE’s Multifamily team in the Central Midwest is the preeminent multifamily investment sales team in the region, with a total team volume of more than $3.8 billion. The team includes nine professionals based in the company’s Indianapolis and Cincinnati offices and covers all of Indiana, Louisville and Lexington, Kentucky, the southern Michigan markets and Cincinnati, Dayton and Toledo, Ohio. The team has nearly 85 years of combined multifamily brokerage experience.
To speak to a CBRE professional, please contact Joe Ludwig at +1 513 369 1305 or joe.ludwig@cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
