Cincinnati investors buy apartment complex anchored by mansion
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550
Cold Spring Road on Dec. 30.
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550
Cold Spring Road on Dec. 30.
Carmel-based developer J.C. Hart Co. is making a $100 million bet that luxury apartment communities will continue to thrive
in Hamilton
County, particularly along 146th Street.
Dozens of people slept in temporary shelters Monday morning after fire ripped through their homes at Arrowwoods Apartments
in Pike Township on Sunday. Two minor injuries were reported at the complex, at 7135 Warrior Trail. The Red Cross is providing
assistance to 33 people who were displaced.
Partners in Housing Development seized on a weak real estate market to acquire three urban apartment communities in the last
18 months.
The owner of downtown’s Riley Towers apartments is working on plans for a 5-story expansion at 225 E. North St. that would
add 54 apartment units and more than 4,000 square feet of retail space.
Frozen hydrants continue to slow down Indianapolis firefighters. Another fire hydrant was found to be frozen Monday night
when a blaze broke out at an apartment complex at 65th Street and Keystone Avenue. No one was hurt in the fire at the Lakewood
Lodge Apartments. Firefighters used water they brought with them to help extinguish the blaze. Damages were estimated at $200,000.
-Big CEC LLC bought the Weston Village Apartments, a 60-unit property at 422 Roosevelt Drive, Greenfield, out of receivership. The price wasn’t disclosed. The complex of one- and two-bedroom flats and three-bedroom townhomes was built in 1967, renovated in 2001 and went into receivership in February 2009. The receiver, Michael J. Williams of Moynahan Williams Inc., and buyer were represented by Colin M. Atkinson of Marcus & Millichap Real Estate Investment Services.
-Dr. Jeremy Roscoe bought a 6,150-square-foot office building at 401 Camby Court, Greenwood. The price wasn’t disclosed. The seller, Glenn-Gary Investment Corp., was represented by Mark Dietel of Royal Companies Inc. The buyer was represented by Pam Smith of Realty World Harbert Co.
-Baaron Properties LLC bought 5.2 acres of retail land at the corner of State Road 37 and Harding Street. The price wasn’t disclosed. The seller, Forum Credit Union, was represented by Mark Dietel of Royal Companies Inc. The buyer was represented by Phil Aaron of Location Realty.
-Randy Faulkner and Associates bought one acre of commercial land located at 300 S. Polk Ave., Greenwood. The price wasn’t disclosed. The buyer and the seller, The Kelly Charitable Trust, were represented by Bruce Richardson of Royal Companies Inc.
The owner of the Riley Towers apartment complex is preparing to develop a 54-unit extension of the landmark
downtown property.
Police have arrested Malcolm Williams, 20, in connection with the stabbing death of a Beech Grove woman. Heâ??s accused of
killing Mallory Olhausen, 25, and seriously wounding Jonathon Tolan early Tuesday morning at Beech Meadow Apartments. The
two victims and the suspect all had worked together at a nearby Wal-Mart, according to investigators. Co-workers say Williams
was recently fired for sexual harassment. Olhausenâ??s 2-year-old son and 4-year-old daughter were in the apartment during
the incident. Fox59 will have more at 4 p.m.
Bluestone Property Management, based in Amherst, N.H., is an investor in the recent purchase of Lake Castleton Apartments
by a New York-based hedge fund. Last week’s Real Estate Weekly cited the wrong Bluestone, a company based in Houston.
The Center Township Advisory Board has picked Buckingham Cos. to redevelop a 2-acre property it owns
at 860 W. 10th St. near the IUPUI campus.
A Denver-based company that just sold its largest Indianapolis apartment complex has taken its four remaining local properties
off the market.
Wayne Township firefighters rescued several people from their west-side apartment balconies early Monday after responding to a reported kitchen fire. Crews who arrived at Mariner’s Village apartments shortly after midnight found the 22-unit, 3-story building consumed in flames. One resident sustained serious injuries and was taken to Methodist Hospital. Three others suffered minor injuries and were treated at the scene. The local American Red Cross chapter is providing housing for some of the affected residents; others are staying with friends and family. Investigators are looking into the cause of the fire.
Short sales and foreclosures in this 2,200-unit development began cropping up several years ago and continue today.
The Commerce Department said Wednesday morning that construction of new homes and apartments rose 8.9 percent in November.
Police are investigating an apparent murder-suicide that happened Thursday night at the John Marr Apartments on the north
side of Indianapolis. A man and woman died of gunshot wounds. Names were not disclosed. Police are awaiting the coroner’s
findings before releasing further details. Fox 59 will have more at 4 p.m.
The service will launch in February. Its goal is to serve 15 clients by June 30, 2010.
The Bay Area has zillions of the tiny dogs. But Indianapolis isn’t part of the airlift strategy.
A task force appointed by Bloomington’s mayor will instead look at other options for protecting the small-town character of the city’s downtown from standardized chain stores and eateries.
Kosene & Kosene is launching a full-service residential real estate brokerage, in part to counter a tough development
market.