Flats at Stones Crossing
Flats at Stones Crossing is a 292-unit, Class A apartment community located in Greenwood, Indiana, a growing submarket within the Indianapolis MSA.
Property Key Features
Market:
Indianapolis-Greenwood
Number of Units
292
Date Acquired:
10/08/2025
Flats at Stones Crossing is a 292-unit, Class A apartment community located in Greenwood, Indiana, within the Indianapolis metropolitan area. Strategically positioned near major retail, employment centers, and transportation corridors, the property offers an attractive living option in a strong suburban market. Gray Capital’s investment strategy for Flats at Stones Crossing focuses on enhancing the asset’s long-term value through operational excellence and market-aligned positioning, leveraging its location in a growing submarket of Central Indiana. The property benefits from proximity to everyday amenities and access to the broader Indianapolis economy, aligning with Gray Capital’s criteria for stable, income-producing multifamily real estate.
Lexington Green and Villa Capri
Full-Cycle Project
Net IRR: 26%
Equity Multiple: 2.33x
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