(To read more on the multifamily market, click here.)
INDIANAPOLIS-Inland American Real Estate Trust Inc., based inOak Brook, IL, has purchased the Fields apartment complex fromAbodes, Inc., based in Bloomington. The sale price was $34 millionfor the 285-unit complex, or $119,298 per unit, says MartyO'Connell director with HFF Chicago. A cap rate was notdisclosed.
The property, located at 1333 Fenbrook Ln., was marketed by ateam from Holliday Fenoglio Fowler LP including O'Connell, seniormanaging director Matthew Lawton, director Sean Fogarty anddirector Dave Nachison, all with HFF Chicago, and director Jon Woodof HFF Indianapolis. The buyer was represented by Mark Cosenza,with Inland Real Estate Acquisitions Inc., part of Inland RealEstate Group of Cos. Inc.
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