Colliers Facilitates Sale of 360-Unit Indiana Multifamily Property
Colliers completed the sale of The Ridge Apartments, located at 1718 West 55th Avenue in Merrillville, Indiana. Morgan Properties acquired the community.
The sale was led by the Colliers team of Bryce Wetzel, Tyler Hague, Lauren Stoliar and Ryan Roegner, who represented the owner, Parkmont Group, a real estate investment and operating firm based in New York. “Parkmont executed a highly successful value-add strategy at The Ridge, combining significant capital improvements with strong operational execution,” said Wetzel. “Despite a challenging investment environment, the property attracted strong investor interest due to its compelling value proposition, supply-constrained location within the Chicago MSA, and continued upside potential.”
Originally developed between 1970 and 1981 and renovated in 2024, The Ridge features a variety of one- and two-bedroom floor plans with one, one-and-a-half, and two-bathroom layouts. The community provides access to major employment centers, educational institutions, and a wide range of shopping, dining, and entertainment options throughout the Chicago metropolitan area.
If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.
Other News
Associated Bank Completes $17M Loan for Libertyville Apartment Acquisition
Associated Bank announced the completion of a $16.5 million loan towards the $22 million total acquisition price of Eleven5 Lake Apartments at 115 Lake Street in Libertyville, Illinois. The property is a stabilized mixed-use property with 34 apartment units with 41 dedicated apartment parking spaces, and 25,147 square feet of ground-floor commercial space. The apartments...
Learn more
NYC Investment Sales Top $23 Billion in First Three Quarters of 2026
New York City investment sales reached $23.69 billion across 1,914 transactions in the first three quarters of 2026, up 9.1% and 7.9%, respectively, from a year earlier, Ariel Property Advisors reported. The year’s first half was especially strong, with dollar volume up 36% in Q1 and 31% in Q2, year-over-year. However, dollar volume in Q3...
Learn more
Bell Partners Acquires 261-Unit Ballard Apartment Building for $95M
Bell Partners, a national apartment owner and property management firm based in North Carolina, has bought the 261-unit Leva on Market building in Seattle’s Ballard neighborhood. Located at 1545 NW Market Street, the property is a mixed-use apartment community featuring studio, one- and two-bedroom units. BlackRock-linked limited liability company Ballard Apartments LLC purchased the land...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout