Indianapolis
RockBridge Capital to Renovate Iconic Canterbury Hotel in Indianapolis for $9.5M
Columbus, Ohio-based RockBridge Capital LLC is planning to close the historic 99-room Canterbury Hotel in downtown Indianapolis for a nine-month renovation and reopen the property under Starwood’s luxurious Le Meridien brand.
Developers Plan $10.7M Affordable Senior Housing Project in Indianapolis
Local low-income housing developer BWI Development & Management Inc. has partnered with the not-for-profit Local Initiatives Support Corporation to develop an affordable housing project for seniors in Indianapolis.
Drugstore to Anchor Retail Component at Pulliam Square in Downtown Indianapolis
TWG Development LLC, formerly known as The Whitsett Group, is planning to open a drugstore at Pulliam Square, the mixed-use redevelopment of the former Indianapolis Star headquarters in downtown Indianapolis. According to the Indianapolis Business Journal, the developer has asked the city for a variance that would allow for a drugstore drive-through at the site. A decision is expected by October.
Transpacific Development Purchases 1.1M-Sq.-Ft. Distribution Center at AmeriPlex
Transpacific Development Co. of Torrance, California has recently purchased a 1.1-million-square-foot distribution center at the AmeriPlex Business Park. According to the Indianapolis Business Journal, the seller of the property at 9101 Orly Road was Metro Holdings One LLC of Columbus, Ohio.
Beech Street Closes $55M in FHA Loans for Indiana Skilled Nursing Portfolio
Infinity Healthcare Management wanted to refinance an 808-bed portfolio of skilled nursing facilities in Indiana, and Beech Street Capital has made it happen with the closing of $55.3 million in FHA 232/223(a)(7) loans.
Browning Investments Obtain Preliminary Approval for $25M Mixed-Use Project Over Community Objections
A proposed $25 million residential and retail project in Broad Ripple has received its first approval from the Metropolitan Development Commission. According to the Indianapolis Business Journal, a final decision regarding the rezoning of the 2-acre property northeast of the intersection of College Avenue and the Central Canal is expected on Sept. 4.
Milhaus Breaks Ground on $26M Redevelopment in Historic District
Construction on the $26 million Circa Apartments at the former Mitchell & Scott industrial site in downtown Indianapolis is currently under way.
Radco Cos. Acquires Receiver-Managed Property for $16.5M
The RADCO Companies has announced the acquisition of the Lakewood Lodge multifamily community in northern Indianapolis. The Atlanta-based company purchased the 454-unit property from its lender, the Lehman estate for $16.5 million.
Flaherty & Collins to Develop $81M Apartment Project on Market Square Arena Site
City officials have chosen Flaherty & Collins’ proposal to redevelop the former site of the Market Square Arena in downtown Indianapolis.
Big Red Liquors Plans New 33,000-Sq.-Ft. HQ in Indianapolis
Bloomington-based Big Red Liquors is planning to turn a vacant 33,000-square-foot building on the south side of Indianapolis into the company’s new headquarters.