Press Releases
Marcus & Millichap Facilitates Sale of 80-Unit Multifamily Property in Indianapolis
June 02, 2025
INDIANAPOLIS, Ind., June 2, 2025 – 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 Arlington Village, an 80-unit multifamily property in Indianapolis, Indiana.
“This sale highlights continued investor confidence in the east side of Indianapolis, where rent growth has outpaced the national average,” said Jack Friskney, senior associate. “The buyer plans to convert some of the larger two-bedroom units into three-bedrooms, make cosmetic updates and capital improvements, and explore the use of underutilized basement space. These upgrades align with the area’s ongoing growth and redevelopment, particularly along the I-70 and I-465 corridor.”
Friskney 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 based in New York.
“I originally sold this property to the seller three years ago and was pleased to represent them again in the disposition after they completed nearly $4 million in improvements,” said Kuroiwa, senior vice president investments. “The buyer, a repeat client, was drawn to the asset’s large unit sizes and the substantial capital already invested, which positions the property well for continued performance.”
Arlington Village, located at 6035 Williamsburg Ct., consists of 20 one-bedroom and 60 two-bedroom apartments across eight buildings. The property is nine miles northeast of downtown Indianapolis and five minutes from Interstate 465 and Pendleton Pike.
“This sale highlights continued investor confidence in the east side of Indianapolis, where rent growth has outpaced the national average,” said Jack Friskney, senior associate. “The buyer plans to convert some of the larger two-bedroom units into three-bedrooms, make cosmetic updates and capital improvements, and explore the use of underutilized basement space. These upgrades align with the area’s ongoing growth and redevelopment, particularly along the I-70 and I-465 corridor.”
Friskney 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 based in New York.
“I originally sold this property to the seller three years ago and was pleased to represent them again in the disposition after they completed nearly $4 million in improvements,” said Kuroiwa, senior vice president investments. “The buyer, a repeat client, was drawn to the asset’s large unit sizes and the substantial capital already invested, which positions the property well for continued performance.”
Arlington Village, located at 6035 Williamsburg Ct., consists of 20 one-bedroom and 60 two-bedroom apartments across eight buildings. The property is nine miles northeast of downtown Indianapolis and five minutes from Interstate 465 and Pendleton Pike.
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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.
