Indiana

Indianapolis — Capstone Real Estate Investments (CREI) has acquired The Tyler Indianapolis, a 260-unit student housing community in downtown Indianapolis. The property was constructed in 2011 and serves students attending Indiana University – Purdue University Indianapolis. The mid-rise community offers one-, two-, three- and four-bedroom, fully furnished units. Shared amenities include a resort-style saltwater swimming pool, clubhouse, fitness center and a rooftop grilling and lounge area. The new ownership plans to rebrand and renovate the property, a timeline for which was undisclosed. 

Lafayette, Ind. — Triad Real Estate Partners has arranged the $34 million sale of MARQ, a 110,075-square-foot community located near Purdue University in Lafayette. The 101-unit property offers shared amenities including a fitness center,  resident lounge and a green roof terrace with a grill. The community also features 23,238 square feet of retail space leased to Old National Bank and BRU Burger Bar. The seller is a family-owned regional developer based out of Indianapolis. The buyers are a family office based out of Los Angeles. 

South Bend, Ind. — An investment affiliate of Redstone Residential has acquired University Edge, a 528-bed student housing community located near the University of Notre Dame campus in South Bend, for $43 million. Kevin Larimer of Berkadia brokered the disposition of the property by Horizon Realty Advisors. Redstone Residential will oversee the management of the community, which offers a mix of one-, two-, three- and four-bedroom units. Communal amenities include a 24-hour fitness center, swimming pool, coffee bar, grilling stations, a clubhouse and study areas. The company plans to refresh the …