CBRE Arranges Sale of 416-Unit Arborwood Apartments in Indianapolis

CBRE has arranged the sale of Arborwood at Mann Road, a 416-unit multifamily property in Indianapolis. Ardizzone Holding Company purchased the property from Kittle Property Group for an undisclosed amount.

CBRE’s Steve LaMotte, Jr., Dane Wilson and Ross Wettersten represented the seller in the transaction.

“This property generated significant interest from both local and national investors, a reflection of the growing demand for multifamily housing in the greater Indianapolis area,” said LaMotte. “With this high demand and low cost of entry compared to larger regions, the Indianapolis multifamily market remains one of the strongest in the Midwest.”

Arborwood at Mann Road is located at 6702 Trunk Way and provides access to Interstates 465 and 70, State Roads 37 and 67, and the Indianapolis International Airport. The property includes a range of one, two, three and four-bedroom floor plans and features a resort-style pool, two dog parks, a grilling station, a fitness center, a business center and a playground.