Source: Block Multifamily Group / #Apartments #Multifamily
INDIANAPOLIS, IN - Block Funds, a real estate equity firm, and Block Multifamily Group (BMG), a national multifamily management services company, recently closed on the acquisition of The Park at Eagle Creek, a 240-unit multifamily community located in Indianapolis, Indiana.
The Park at Eagle Creek was built in 1998 and is located in the thriving west side of Indianapolis and is within walking distance of Eagle Creek Park. The complex boasts large units, beautifully landscaped wooded grounds, high-end unit features and unique amenities including a resort-style pool area not found elsewhere on the west side of Indianapolis.
"With its close proximity to Eagle Creek Reservoir, which provides a package of amenities like biking, golf and water activities for our residents and the convenient access to I-465, The Park at Eagle Creek is a positive addition to the Block Multifamily Group portfolio,” said Bill Larson, CPM, President Block Multifamily Group.
Block Funds is a leading real estate private equity firm with more than $1 billion in commercial property under management. Block Funds allows accredited investors seeking income, capital preservation and appreciation an opportunity to earn high, stable cash yields and competitive risk-adjusted returns with low correlations to other asset classes through investment in institutional quality commercial real estate. The Block Funds team has a combined 200 years of commercial real estate experience and has been involved in over $2.5 billion in real estate transactions. Block Funds investment professionals manage four private equity funds and hundreds of syndicated partnerships, leveraging Block Real Estate Services’ national network of relationships to source exclusive transactions with exceptional returns.
Block Multifamily Group (BMG) provides multifamily management services in a wide geographic area. BMG currently manages 7,121 units in development and under asset management. BMG's de- centralized management, coupled with a centralized financial center, enables staff to provide proactive property management services in a timely manner. Covering conventionally-financed multifamily assets as well as HUD-insured and Low Income Housing Tax Credit (LIHTC) properties, BMG is able to provide services for a wide client base.