Six Property Portfolio Sale Marks Wilkinson’s Largest Multifamily Transaction
Wilkinson Corporation is pleased to announce the sale of the six property portfolio known as the Indy 6, located in Indianapolis, Indiana. Five of the value-added apartment home communities sold on June 23, 2022. The last property, Lakeshore Reserve, sold on September 28, 2022. At closing, occupancy for the portfolio was stable at 95%. Acquired in October 2018, the average increase in value for each of the properties was greater than 86%.
The six properties consisted of 2,103 units including Boardwalk on Westlake, the largest apartment community in the city of Indianapolis, with 1,381 units located on 98 acres. The other four apartment communities included in the June sale are Lakeside Crossing at Eagle Creek, Parkside at Castleton Square, The Elliott at College Park, and The Preserve on Allisonville.
The initial five-property transaction is the largest multifamily transaction in Indiana state history and marked Wilkinson’s second largest on record. More information can be found at the Indianapolis Business Journal and Multi-housing News.
The sale of these five assets marked Wilkinson’s third multifamily transaction of 2022 following the purchase of The Fields in January and the sale of Retreat at Arc Way in April. More recently, following the acquisition of Beacon Place at Godly Station in August and the disposition of Lakeshore Reserve in September, Wilkinson has transacted over $338M volume through the first nine months of year.
By the Numbers
Over the course of Wilkinson’s 30+ year history, the firm has transacted over $3 billion, of which over $2.27 billion has been multifamily volume.
Total Multifamily Acquisition Volume: More than $1 Billion
Total Multifamily Properties Sold: 54
Average increase over purchase price: 70.50%
Past performance is not necessarily indicative of future results. This letter is not an offer to sell or a solicitation of an offer to buy securities.