East-side apartment complex target of $9M foreclosure
A Marion Superior Court judge has approved the appointment of a receiver to manage Lexington Park near North Post Road and East 38th Street.
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Carmel office/retail complex hurt by road project gets second chance
Merchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start after major road construction drove away tenants and caused a previous owner to default.
Hoosier Lottery paring down lavish new offices
Hoosier Lottery officials have started getting rid of some office and gym equipment that was purchased for the agency's $2 million move to a new downtown Indianapolis headquarters.
Keystone Towers redevelopment could start in April
The first phase of the $22.5 million project, dubbed The Point on Fall Creek, would involve the construction of 58 apartments. Another 80 units would follow, complemented by a retail component.
Giant Super Bowl ads set to adorn downtown buildings
Downtown building owners are looking to cash in on the upcoming Super Bowl by selling space for massive temporary advertisements.
Overseas rules change could pave way for Simon deals
New rules proposed for real estate investment trusts in the United Kingdom could help Indianapolis-based Simon Property Group Inc. as it seeks to expand its shopping mall dominance outside the United States.
New deals add to robust year in apartment sales
The number of transactions has more than doubled compared with last year, a spike in deal flow caused by healthy occupancy rates and a combination of ample supply and low borrowing costs.
Malls see big changes just in time for holidays
New stories have debuted at malls across the Indianapolis area. Many are pop-up shops eager to capitalize on holiday shoppers and the Super Bowl crowds.
Builder, developer partner in turnaround firm
Providence Homes was started earlier this year by Mitch Davis, 42, a former vice president of the now-defunct CP Morgan Homes; and Brian Mann, 44, managing partner of Mann Properties.
Washington Square owner Simon not paying on $12.8M loan
Traffic is low and vacancies are high at Washington Square Mall, the most troubled local property for Indianapolis-based mall giant Simon Property Group Inc.
Bank hits Centre Properties with $43M suit
Three local strip centers owned by longtime Indianapolis developer Centre Properties are the target of a $43 million foreclosure lawsuit brought by the real estate firm’s lender.
Simon widow loses another battle in estate fight
The Indiana Court of Appeals ruled Bren Simon doesn’t have legal standing to challenge a judge’s decision not to recuse himself from overseeing the court fight over her late husband Melvin’s $2 billion estate.
Midwest farmland value jumps most since 1977, Fed says
Farmland values in the U.S. Midwest surged 25 percent during the third quarter, the most since 1977, as higher grain and livestock earnings boosted demand for acreage, the Federal Reserve Bank of Chicago said.
Apartment project planned for south end of Monon
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
Mall owner Simon Property Group to sell $1.2 billion in debt
Indianapolis-based Simon Property Group Inc. on Thursday said it plans to sell $1.2 billion of new debt to repay older debt.
City balks at Jack in the Box plans for Meridian Street site
Urban design guidelines prohibit new drive-throughs along Meridian or Pennsylvania streets in the downtown vicinity.
Obscure not-for-profit covering shortfalls in Carmel
The Carmel City Center Community Development Corp. has emerged as a key player in the city’s burgeoning downtown. The not-for-profit 4CDC last month gave the performing arts center $1 million to cover its operating expenses, and it’s expected to provide another $4.5 million through June 30.
Farmland values may extend record, banker chief says
Record-high U.S. farmland values may keep rising as global demand for agricultural products increases, according to S. Joe DeHaven, the chief executive of the Indiana Bankers Association.
Broad Ripple buildings slated for office conversion
Kyle Robinson and Drew Loftus are in the process of buying and rezoning a trio of vacant, connected buildings at 6334 Westfield Blvd., where the Monon Trail crosses the canal.
West-side Godby building in foreclosure
A building at 4701 Rockville Road, owned by local businessman Thomas Godby, is the target of a $2 million foreclosure suit filed by Old National Bank. The building’s tenants include Tony Stewart Racing Enterprises and Sara Fisher Racing LLC.