Press Releases
Marcus & Millichap Arranges $7.4M Sale of Multifamily Portfolio in Indiana
August 19, 2025
INDIANA, Aug. 19, 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 a portfolio including 76 apartment units and three retail units in Hartford City, Spiceland, Knightstown and Rushville, Indiana. The properties sold $7.4 million.
“These properties represent some of the highest quality housing options in their respective markets, each built within the last eight years,” said Jack Friskney, director investments. “The buyer saw an opportunity to acquire well-maintained assets in stable, rural communities with upside potential through filling the vacant commercial space in Hartford City and completing minor interior updates. With strong fundamentals and ongoing economic development, particularly in Rushville, these properties are well positioned to attract a quality tenant base.”
Friskney, Aaron Kuroiwa and Austin Meeker investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, KDC Investments, and procured the buyer, PRE/3.
The portfolio comprises 76 apartment units and three commercial retail units across four properties. The residential unit mix includes 62 two-bedroom units and 14 three-bedroom units. Built between 2017 and 2021, the portfolio spans a total of 12 acres and features modern construction throughout.
The properties are located at 701-707 W. 16th St., Rushville; 101 E. Main St. and 102 E. Franklin St., Hartford City; 624-656 E. Main St., Spiceland; and 123 W. Morgan St., Knightstown.
“These properties represent some of the highest quality housing options in their respective markets, each built within the last eight years,” said Jack Friskney, director investments. “The buyer saw an opportunity to acquire well-maintained assets in stable, rural communities with upside potential through filling the vacant commercial space in Hartford City and completing minor interior updates. With strong fundamentals and ongoing economic development, particularly in Rushville, these properties are well positioned to attract a quality tenant base.”
Friskney, Aaron Kuroiwa and Austin Meeker investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, KDC Investments, and procured the buyer, PRE/3.
The portfolio comprises 76 apartment units and three commercial retail units across four properties. The residential unit mix includes 62 two-bedroom units and 14 three-bedroom units. Built between 2017 and 2021, the portfolio spans a total of 12 acres and features modern construction throughout.
The properties are located at 701-707 W. 16th St., Rushville; 101 E. Main St. and 102 E. Franklin St., Hartford City; 624-656 E. Main St., Spiceland; and 123 W. Morgan St., Knightstown.
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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.
