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
Weidner Adds 341-Unit Rental Asset to Austin Portfolio
Weidner Apartment Homes acquired the Solaris House apartments, a 341-unit high-rise apartment complex located in North Austin’s Domain submarket. Brandywine Realty Trust was the seller. JLL represented Brandywine Realty Trust in the sale of the asset. JLL’s Debt Advisory team also arranged acquisition financing for Weidner through Nationwide. The acquisition marks Weidner’s fifth community in...
Learn more
Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
Learn more
CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
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