2/8/2008

Tikijian brokers sale of 200 units in Indianapolis

by

Stone Gate Apartments

Mr. Tikijian

Barrett & Stokely, Inc. has purchased the Stone Gate Apartments in the Indianapolis suburb of Carmel, Ind., from Zidan Management Group.

Indianapolis-based Tikijian Associates brokered the deal.

The 200-unit apartment complex is located at 429 3rd Ave. NW in Carmel, Ind., about 18 miles north of Indianapolis. The buyer, who also owns the nearby Main Street on the Monon apartments, plans to spend $10,000 per unit on renovations and upgrades to the one and two-bedroom apartments.

Tikijian's founder, George Tikijian, recently brokered the sale of the 252-unit Sand Creek Woods apartment complex in Indianapolis.

Tijikian founded his firm in 2005 after working in CB Richard Ellis' Indianapolis office, where he specialized in the sale of apartment properties.

Address: 429 3rd Ave. NW, Carmel, Ind.

Size: 200 units

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Filed Under: Multi-Family

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