Press Releases
Marcus & Millichap Closes Four-Property Multifamily Portfolio Sale in Indianapolis
November 03, 2026
INDIANAPOLIS, Nov. 3, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Indy Town Apartments, a 412-unit apartment portfolio in Indianapolis, Indiana. The portfolio sold for $25.8 million.
“Located in one of the strongest rent growth markets in the nation over the past few years, the portfolio was offered at an attractive basis, allowing the buyer to immediately acquire scale in Indianapolis at a price per unit lower than multiple nearby comparable sales,” said Aaron Kuroiwa, senior managing director investments in Marcus & Millichap’s Indianapolis office. “The seller built the portfolio over the last decade and executed a business plan that included refinancing into attractive agency debt. The Northeast-based buyer was drawn by the portfolio’s immediate scale and the attractive assumable loan.” Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller.
The properties are less than 10 minutes from each other in the Eastside of Indianapolis, close to the Community Heights and Arlington Woods neighborhoods. Interstate 70, Interstate 465, and U.S. Route 40 are nearby. Employers in the vicinity include Defense Finance and Accounting Service, Indiana University Health Hospital, Eli Lilly, and Indiana University Indianapolis. Shopping is within a short drive at Castleton Square, The Fashion Mall at Keystone, and Glendale Town Center.
The properties, Arlington Green, Glen Ridge, Frederick Square, and Greenway were constructed between 1950 and 1968, and all units were renovated in 2019. Since then, 181 of the units received additional upgrades, and 73 apartments were completely renovated. Arlington Green is an 181-unit, five-building property, Glen Ridge has 70 units and 21 buildings, Frederick Square is a 65-unit, three-building property, and Greenway is 96-unit, four-building asset.
“Located in one of the strongest rent growth markets in the nation over the past few years, the portfolio was offered at an attractive basis, allowing the buyer to immediately acquire scale in Indianapolis at a price per unit lower than multiple nearby comparable sales,” said Aaron Kuroiwa, senior managing director investments in Marcus & Millichap’s Indianapolis office. “The seller built the portfolio over the last decade and executed a business plan that included refinancing into attractive agency debt. The Northeast-based buyer was drawn by the portfolio’s immediate scale and the attractive assumable loan.” Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller.
The properties are less than 10 minutes from each other in the Eastside of Indianapolis, close to the Community Heights and Arlington Woods neighborhoods. Interstate 70, Interstate 465, and U.S. Route 40 are nearby. Employers in the vicinity include Defense Finance and Accounting Service, Indiana University Health Hospital, Eli Lilly, and Indiana University Indianapolis. Shopping is within a short drive at Castleton Square, The Fashion Mall at Keystone, and Glendale Town Center.
The properties, Arlington Green, Glen Ridge, Frederick Square, and Greenway were constructed between 1950 and 1968, and all units were renovated in 2019. Since then, 181 of the units received additional upgrades, and 73 apartments were completely renovated. Arlington Green is an 181-unit, five-building property, Glen Ridge has 70 units and 21 buildings, Frederick Square is a 65-unit, three-building property, and Greenway is 96-unit, four-building asset.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
