INDIANAPOLIS—CBRE Group has brought a 12-property multifamily and mixed-use portfolio to market for sale or recapitalization on behalf of locally based Milhaus. Spanning six markets and multiple regions with 2,195 apartment units and 114,441 square feet of commercial space, the portfolio—known as the Urban Core Portfolio—is being marketed from CBRE's Indianapolis office by SVP Steve LaMotte and first VP Dane Wilson.
CBRE did not disclose the portfolio's asking price. However, it's rumored to be approximately $450 million.
“This portfolio spans a broad range of dynamic submarkets in metros that are still emerging,” LaMotte says. “The Urban Core Portfolio is a rare opportunity to deploy a critical mass of capital in newly constructed, best-of-class assets.”
Seven of the properties are in Indianapolis, with one each in Cincinnati, Louisville, Memphis, Milwaukee and Oklahoma City. All 12 properties are new or recent construction with the oldest being completed in 2013 and some assets nearing completion. The properties have in common prime locations in their respective markets, with high walkability scores.
Milhaus CEO Tadd Miller says his team is “excited for Milhaus and for investors as we bring this portfolio to market. Our company has built some of the highest quality assets in the best locations in each of our cities, and we will use the proceeds from this transaction to further Milhaus' growth and our ability to make positive change in the communities in which we live and work.”
In Indianapolis, the properties for sale include the 258-unit Artistry; the 242-unit Mentor & Muse and 54-unit Mosaic, which represent phases two and three of Artistry; the 265-unit Circa; 747, with 36 units; Mozzo, with 65 units; and Pinnex, with 77 units. Other properties in the Urban Core Portfolio include Highland Row in Memphis, with 354 units; Lift in Oklahoma City, with 329 units; Stitchweld in Milwaukee, 291 units; Gantry in Cincinnati, 131 units; and AMP in Louisville, 93 units. For more information on the Urban Core Portfolio, visit the website.
INDIANAPOLIS—CBRE Group has brought a 12-property multifamily and mixed-use portfolio to market for sale or recapitalization on behalf of locally based Milhaus. Spanning six markets and multiple regions with 2,195 apartment units and 114,441 square feet of commercial space, the portfolio—known as the Urban Core Portfolio—is being marketed from CBRE's Indianapolis office by SVP Steve LaMotte and first VP Dane Wilson.
CBRE did not disclose the portfolio's asking price. However, it's rumored to be approximately $450 million.
“This portfolio spans a broad range of dynamic submarkets in metros that are still emerging,” LaMotte says. “The Urban Core Portfolio is a rare opportunity to deploy a critical mass of capital in newly constructed, best-of-class assets.”
Seven of the properties are in Indianapolis, with one each in Cincinnati, Louisville, Memphis, Milwaukee and Oklahoma City. All 12 properties are new or recent construction with the oldest being completed in 2013 and some assets nearing completion. The properties have in common prime locations in their respective markets, with high walkability scores.
Milhaus CEO Tadd Miller says his team is “excited for Milhaus and for investors as we bring this portfolio to market. Our company has built some of the highest quality assets in the best locations in each of our cities, and we will use the proceeds from this transaction to further Milhaus' growth and our ability to make positive change in the communities in which we live and work.”
In Indianapolis, the properties for sale include the 258-unit Artistry; the 242-unit Mentor & Muse and 54-unit Mosaic, which represent phases two and three of Artistry; the 265-unit Circa; 747, with 36 units; Mozzo, with 65 units; and Pinnex, with 77 units. Other properties in the Urban Core Portfolio include Highland Row in Memphis, with 354 units; Lift in Oklahoma City, with 329 units; Stitchweld in Milwaukee, 291 units; Gantry in Cincinnati, 131 units; and AMP in Louisville, 93 units. For more information on the Urban Core Portfolio, visit the website.
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