Indianapolis – July 24, 2019 – CBRE has brokered the sale of Copper Chase at Stones Crossing, a 296-unit apartment property located in the Indianapolis metro at 2345 Thorium Drive in Greenwood, Indiana. Copper Chase Apartments, LLC purchased the asset from Herman & Kittle Properties. A purchase price was not disclosed.
Steve LaMotte, Jr. and Dane Wilson of CBRE’s Midwest Midsouth Multifamily represented Herman & Kittle in the transaction. “We sourced nearly 20 offers to purchase the property, but what was even more interesting than that was the nature of the capital. Of the top ten bids, half were new sources of capital making their first offers on Indianapolis are a property. This is evidence of the tremendous investor demand to gain a foothold in our dynamic metro,” said LaMotte.
Though built in 2010, the market resoundingly agreed with the value-add strategy presented. The community is replete with amenities such as a resort-style pool, poolside Wi-Fi, the Copper Coffee Café, resident business/study center, car care center, canine agility park, spacious sun patio and grilling pavilion.
The CBRE Midwest Midsouth Multifamily Team has transacted over $2.2 billion since 2014.
Steve LaMotte, Jr. and Dane Wilson of CBRE’s Midwest Midsouth Multifamily represented Herman & Kittle in the transaction. “We sourced nearly 20 offers to purchase the property, but what was even more interesting than that was the nature of the capital. Of the top ten bids, half were new sources of capital making their first offers on Indianapolis are a property. This is evidence of the tremendous investor demand to gain a foothold in our dynamic metro,” said LaMotte.
Though built in 2010, the market resoundingly agreed with the value-add strategy presented. The community is replete with amenities such as a resort-style pool, poolside Wi-Fi, the Copper Coffee Café, resident business/study center, car care center, canine agility park, spacious sun patio and grilling pavilion.
The CBRE Midwest Midsouth Multifamily Team has transacted over $2.2 billion since 2014.
About CBRE Group, Inc.
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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated 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.
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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated 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.
