**PRP Acquires Cosmopolitan on the Canal in Downtown Indianapolis**
PRP has announced the acquisition of Cosmopolitan on the Canal, a 218-unit Class A multifamily community located along the Central Canal in downtown Indianapolis, Indiana.
Originally built in 2010, the community’s interiors remain in their original condition and are slated for a comprehensive renovation.
“This acquisition reflects our continued strategy of investing in high-quality multifamily communities in growth-oriented U.S. markets,” said Jon McAvoy, Chief Investment Officer of PRP. “Indianapolis is experiencing continued strong economic momentum driven by billions of dollars of infrastructure, education, and medical investment.”
Strategically positioned between two of downtown Indianapolis’ most significant developments—Indiana University Health’s $4.3 billion expansion and the bifurcation of Indiana University–Purdue University Indianapolis into two separate institutions—Cosmopolitan on the Canal’s waterfront location, amenities, and proximity to major employment centers make it one of the city’s premier residential communities.
