CBRE recently facilitated the sale of Westminster, a multifamily property located in Greenwood, Indiana. The 438-unit complex was purchased by Monarch from Van Rooy Properties for an undisclosed amount.
The transaction was led by CBRE’s George Tikijian, Hannah Ott, Cam Benz, Claire Bullard and Ryan Stockamp who represented the seller. According to Tikijian, “This marks a successful investment cycle for Van Rooy who acquired the property in 2010 and made significant renovations shortly after. After managing Westminster for 14 years with great success, Van Rooy is now exiting and passing on a well-maintained asset to Monarch.”
Westminster is situated at 921 Parliament Place near the busy intersection of County Line Road and U.S. Highway 31. The complex boasts an all-brick exterior with a mix of townhomes and flats featuring one-, two-, and three-bedroom layouts averaging around 918 square feet.
Originally built in 1971, Westminster has undergone extensive renovations totaling nearly $20 million since its acquisition in2014 including upgrades to unit finishes as well as modernization improvements to its clubhouse.
This sale was announced by Connect CRE.
