Updated Mar 4, 2026
Heritage Affordable Communities Acquires 824-Unit Multifamily Property In Indianapolis For $33M
3645 Wingate Court, Indianapolis, Indiana, USA
$33,000,000
$39/SF
Building Size
840,252 SF
Asset Type
MultiFamily
Closing
Nov 2, 2021
About this deal
AI
The multifamily property located at 3645 Wingate Court in Indianapolis, IN, has been sold in a transaction. The sale was facilitated by Steven Vegh and Alex Hajibay. The deal was finalized on 11/03/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $33,000,000
- Address: 3645 Wingate Court
- Market: Indianapolis, IN
The buyer of the property is Heritage Affordable Communities, while the seller is Meridian Group, represented by Ramsey Hakim. The transaction was assisted by Steven Vegh from Westwood Realty Associates.
The property consists of 824 units, with a per unit price of $40,048. It is worth noting that Heritage Affordable Communities has a total of eleven affordable housing deals under contract, amounting to approximately 3,000 units and $205M. The company is actively expanding its portfolio in the affordable housing sector.
Players
Indianapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93