Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Yorktowne Farms Apartments, a 264-unit multifamily asset in Greenwood, Indiana.
“Rents in the Indianapolis area continue to grow, sustained by an overall vacancy rate that is below the long-term average,” said Aaron Kuroiwa, senior vice president investments in Marcus & Millichap’s Indianapolis office. Kuroiwa and Tony Rogers represented the buyer, ICONIC Property Partners.
Built in 1982, Yorktowne Farms Apartments is 15 miles from Downtown Indianapolis and easily accessible from Interstate 65, Interstate 465 and U.S. Highway 31. The University of Indianapolis, Purdue Indianapolis, and Ivy Tech Community College are nearby.
The Yorktowne Farms Apartments community amenities include a swimming pool, laundry facilities, a playground and basketball and tennis courts. There is also a 24-hour fitness room fully equipped with free weights, ellipticals, treadmills, and more. Residents also enjoy exclusive access to complimentary fitness training and invigorating yoga classes. Apartments have dishwashers, walk-in closets and washer/dryer connections. The community is pet-friendly.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion.
