CBRE Arranges Sale of Newly Constructed 218-Unit Multifamily Property in Greenwood, Indiana

CBRE has arranged the sale of The Hangar on Emerson, a 218-unit multifamily property in Greenwood. Railfield Partners purchased the property from The Garrett Companies for an undisclosed amount.

CBRE’s Hannah Ott, George Tikijian, Cam Benz, Claire Bullard and Ryan Stockamp represented the seller in the transaction.

“Despite interest rates remaining higher than expected in 2024, the Indiana multifamily market continues to see a large amount of interest from both local and national investors,” said Ott. “Suburban properties in high-growth locations are doing especially well, with The Hangar on Emerson alone receiving more than 20 offers while on the market.”

The Hangar on Emerson is located at 1140 Emerson Pointe Drive, just south of Indianapolis and proximate to the Interstate 65 and County Line Road intersection. Built in 2023, the property features a range of one-, two- and three-bedroom floor plans averaging 1,006 square feet.

Community and unit amenities include a resort-style swimming pool and spa, courtyards with seating areas, a clubhouse, controlled access, a fitness center, a pet park, a patio/balcony in each unit, in-unit washers and dryers, stainless steel appliances and a yoga room.