Indianapolis – November 30, 2020 – CBRE has arranged the sale of Solana Apartments, a 384-unit waterfront community in the Keystone Crossing submarket of Indianapolis. An affiliate of Inland Private Capital Corporation sold the property to a real estate fund managed by Covenant Capital Group, a real estate investment manager located in Nashville, Tennessee.
Steve LaMotte, Jr., an executive vice president and co-leader of CBRE’s Indianapolis Louisville Multifamily team, along with Dane Wilson and Alex Possick, represented the seller in the transaction.
“The Solana offering was launched in mid-March 2020, at the onset of the pandemic in the U.S.,” said Mr. LaMotte. “It was our core belief that there would still be investor demand for high-quality Indianapolis product. Solana was well received and traded at pre-crisis level, as correlated to a loan assumption.”
Keystone Crossing, located in Indianapolis’ high-income northern suburbs, is an esteemed infill submarket with the most dense and prominent collection of office, retail and dining in the city.
CBRE’s Indianapolis Louisville Multifamily team is the market leader in the Class A segment of the multifamily space and has transacted over $2.2 billion since 2014.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
