INDIANAPOLIS—Steadfast Apartment REIT, a newREIT, has just bought Harrison Place, a 307-unit complex inIndianapolis, its second acquisition, for $27,900,000.
“Harrison Place is located in one of the stronger submarketswithin the Indianapolis area, and boasts consistently highoccupancy,” says Ella Shaw Neyland, president ofSteadfast Apartment REIT. “We are pleased to add thiswell-maintained, stable apartment community to our portfolio.”
Steadfast REIT Investments LLC, an affiliate ofSteadfast Companies, an Orange County, CA-basedgroup of affiliated real estate investment and operating companiesthat acquire, develop and manage real estate in the US and Mexico,sponsors Steadfast Apartment REIT. In May 2014, it made its firstacquisition by buying the 176-unit Villages at Spring Hill inSpring Hill, TN. And other REITs in the Steadfast group have alsorecently made big purchases in the region. For example, as reportedin GlobeSt.com, last month Steadfast Income REIT,Inc. acquired Oak Crossing, a 222-unit apartment communityin Fort Wayne, IN.
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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.
