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Updated about 7 years ago, 11/15/2017

User Stats

40
Posts
16
Votes
Scott McGurk
  • Investor
  • Indianapolis, IN
16
Votes |
40
Posts

5-50 units in Indianapolis

Scott McGurk
  • Investor
  • Indianapolis, IN
Posted
Good morning all, I just purchased my first duplex in Indianapolis in July and now I'm looking to purchase my first 5-50 unit apartment complex in the Indianapolis area. Does anyone have a listing or two in the area? Thanks, Scott

User Stats

591
Posts
807
Votes
Spencer Gray
  • Syndication Expert and Investor
  • Indianapolis, IN
807
Votes |
591
Posts
Spencer Gray
  • Syndication Expert and Investor
  • Indianapolis, IN
Replied

I would start with the brokers: Tikijan, Cushman, CBRE, Berkadia, etc.  

Tikijan usually has larger (100-1000 unit) multifamily listings around the state, but often has some sub 100 unit properties. Looks like the smallest listed currently property is a 66 unit in Brownsburg.

http://www.tamultihousing.com/get_listings.cfm

It's mostly relationship driven so if you haven't already I would reach out even if they don't have anything listed at the moment and get the ball rolling. A lot of deals are never listed and taken directly to known buyers so you need to be on their radar.

There's also some syndication opportunities around Indy if you are looking to scale.

User Stats

40
Posts
16
Votes
Scott McGurk
  • Investor
  • Indianapolis, IN
16
Votes |
40
Posts
Scott McGurk
  • Investor
  • Indianapolis, IN
Replied

Thanks for the information. I’ve reached out to a few different brokers and Tikijian has been one of them. The problem, which is good for them, is that they always have multiple bids. I remember on one of their properties they had 28 groups walk the property and 24 of them submitted a bid.

Scott

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