Press Releases
Marcus & Millichap Facilitates Sale of 44-Unit Multifamily Property in Indianapolis
July 09, 2024
INDIANAPOLIS, July 9, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Glenstone Apartments, a 44-unit multifamily property located in Indianapolis, Indiana. The property sold for $2,225,000, or $50,568 per unit.
"Congratulations to both the buyer and seller of Glenstone Apartments," said Jack Friskney, senior associate. "The seller successfully exited after nearly a decade of ownership, moving closer to retirement. The buyer plans to renovate the studio units over the next 12-24 months."
Friskney, Austin Meeker and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both Indianapolis locals.
Located at 2215 East 56th Street, Glenstone Apartments features 44 studio units approximately 250 square feet in size. Built in 1965, the property is situated on 1.34 acres in the Canterbury-Chatard neighborhood, 20 minutes from downtown Indianapolis. The apartments are conveniently located near Glendale Town Center with national retailers like Target, Lowe’s and Starbucks.
"Congratulations to both the buyer and seller of Glenstone Apartments," said Jack Friskney, senior associate. "The seller successfully exited after nearly a decade of ownership, moving closer to retirement. The buyer plans to renovate the studio units over the next 12-24 months."
Friskney, Austin Meeker and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both Indianapolis locals.
Located at 2215 East 56th Street, Glenstone Apartments features 44 studio units approximately 250 square feet in size. Built in 1965, the property is situated on 1.34 acres in the Canterbury-Chatard neighborhood, 20 minutes from downtown Indianapolis. The apartments are conveniently located near Glendale Town Center with national retailers like Target, Lowe’s and Starbucks.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. 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, 2024, the company had 1,712 investment sales and financing professionals in over 80 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
