9/24/2007

JVM Realty buys Indianapolis multifamily for $16.6 million

by

Waterside of Castleton

Oak Brook, Ill.-based JVM Realty Corp. has acquired the Waterside of Castelon apartments in Indianapolis, Ind., for $16.6 million from Capreit Firethorn LLP.

Rick Vidrio of Hendricks & Partners represented Capreit.

The 400-unit apartment complex contains a mixture of one- and two-bedroom units. Built in 1981, the building is located at 8380 Whipporwill Dr. and is 91 percent occupied.

Capreit purchased the property in January 2003 for $16 million.

JVM Realty is a privately held real estate investment and development company.

Hendricks & Partners is a real estate brokerage firm specializing in multifamily properties.

Address: 8380 Whipporwill Dr., Indianapolis, Ind.

Size: 400 units

Built: 1981

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Filed Under: Multi-Family

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