March 2, 2020
Berkadia recently arranged the sale and financing of H7 Portfolio, the largest multifamily sale in the state of Indiana to date, and in the Midwest in 2019 by unit count.
Brooklyn-based Hampshire Properties was the seller of the seven-property portfolio that totals 1,842 units, located in Indianapolis and Fort Wayne, IN. Published reports say the buyer was Spruce Capital.
Chris Bruzas, Connor Boyer and Alex Blagojevich of Berkadia’s Mid-Markets Group secured the sale. Berkadia’s Richard Levine and Robert Lipson secured financing for the purchase of two of the properties.
“We saw some of the largest investors in the country looking at Indiana for the first time due to the pricing and scale of the portfolio,” said Bruzas. “The age, locations and upside demonstrate what the market is looking for today. We were able to parlay all of those rare opportunities in the seller’s favor.”
For comments, questions or concerns, please contact Paul Bubny