CB Richard Ellis closes sale of apartment community in Indiana

The Indianapolis-Cincinnati Multi-Housing Group of CB Richard Ellis recently completed the sale of Quail Run, a 166-unit apartment community located in Zionsville, Ind.

Quail Run is one of just five rental communities located in the Zionsville area because of the very high political barriers to entry in this high-end community dominated by single-family homes.

The property was a value-add but stabilized investment opportunity and received interest from a diverse range of investors including private and institutional capital. McCann Realty Partners purchased Quail Run at an undisclosed price.

The Indianapolis-Cincinnati Multi-Housing Group represented a joint venture between QVT Mt. Auburn and Bluestone Property Management in the disposition of Quail Run.

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