FT. WAYNE, IN—Steadfast Income REIT, Inc.officials have said they concentrate their purchases in the centralcorridor of the US because that's where the jobs are being created.And the company just acquired Oak Crossing, a222-unit apartment community in Fort Wayne, IN, another small UScity that has begun to see significant development activity, for$24.23 million. This brings the Orange County-based REIT's totalportfolio to 67 communities in 11 Midwestern and Southernstates.
"This is a high-quality property located within a mile from thenewly built, highly acclaimed Parkview Regional MedicalCenter,” said Ella Shaw Neyland,president of Steadfast. "We believe the market's long-termapartment performance outlook looks promising and bright.”
As reported earlier this week in GlobeSt.com, AshBrokerage has just launched a $98 million mixed-use project thatpromises to help transform the city's downtown. The firm will buildan eight-story, 95,000-square-foot, $29 million headquartersbuilding, and, as part of the project, Hanning & BeanEnterprises plans to develop a $30 million, 17-storyresidential tower of 100 townhomes, apartments and condos.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
