INDIANAPOLIS-An associate of New York-based Sovereign Bank has sold Knobs Point, an apartment complex consisting of 384 units in New Albany, to Ohio-based Bluestone Property Management. This is the third apartment complex acquired in the Southern Indiana/Louisville market by Bluestone.
Bluestone is planning for a $3 million renovation to include an office and shopping complex measuring 23,000 square feet close to the apartments. Tikijian Associates brokered the sale for the bank, which bought the property through a foreclosure sale.For the full story, go to Business First.
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