Location: 6143 Winthrop Ave, Indianapolis, IN 46220
Property: Multifamily Investment – Townhome Portfolio
Goal: Execute property sale of a townhome condo portfolio
Located in the heart of Broad Ripple Village on the north side of Indianapolis, the 18-unit townhome portfolio makes up 64% of the entire 28-unit townhome development known as the Townes at Winthrop.
Our team guided the client through the complexities of selling a fractured condo portfolio, which provides challenges due to the lack of control of the entire development that would traditionally exist in a normal multifamily property. Once the value was established, we worked with the client to complete an entirely “off-market” marketing and sale campaign, never listing the property on any marketing websites, or openly marketing to the brokerage community to protect the Seller’s interest.
From there, SRG began targeting prospective buyers that understood the value in the portfolio and location and were interested in class A residential investment properties. Our targets included single-family residential investors, Indianapolis based multifamily syndicators, and local residential developers, along with individuals and groups that were looking for alternative investments to diversify from traditional stock market investments.
SRG was able to take this investment townhome portfolio from listed to closed in 6 months at 97% of list price, while keeping the property off-market, without public marketing to protect the Seller’s interest. The 18-unit portfolio was 94% occupied with renters at the time of listing, providing the Buyer with strong cash-flow from day 1 of ownership.