Wesley Place, the only luxury residential building in Downtown Indianapolis’ Medical District, has been sold by Standard Real Estate Investments and Arrow Street Development. The 244-unit apartment complex, located at 75 West 18th St., was constructed in 2023 as part of Standard’s investment program with Belay Investment Group, LLC. The JLL Chicago team of Amanda Friant, Ken Martin, Mark Stern, Zach Kaufman and Sam Grohe represented the seller.
Situated on a prime 2.1-acre site within walking distance of Indiana University Health Campus – a $4.3 billion expansion and redevelopment project that began construction in 2022 – Wesley Place is currently leased at an impressive rate of over ninety percent. Its thoughtfully designed studio to two-bedroom apartments offer residents access to top-of-the-line amenities while also providing convenient access to retail spaces on the ground level and ample parking options.
Standard CEO Robert Jue expressed his satisfaction with this sale: “We are proud to have worked alongside a knowledgeable local team throughout this asset’s life cycle,” he said.”This opportunity allowed us not only to provide much-needed housing but also contribute positively towards our strategic investment goals.”
