Stonybrook Commons
Stonybrook Commons is a 122-unit B apartment community located in Indianapolis, IN and built in 1990.
Property Key Features
Market:
Indianapolis, IN
Number of Units
122
Date Acquired:
05/23/2022
Stonybrook Commons is a 122-unit B apartment community located in Indianapolis, IN and built in 1990.
Stonybrook is strategically located within immediate proximity to 9.5 million square feet of new logistics development set to bring hundreds of new jobs into the sub-market where there is no new supply of apartments in the pipeline. Gray Capital’s strategy for this asset involves harnessing the job growth of the area, improving operational efficiencies, and light value-add improvements to bring rents at or above comparable nearby properties.
Villas on Fir
Villas on Fir is a 290-unit, class-A apartment property built in 2018 and located in the growing and affluent suburb of Granger, IN (South Bend/Mishawaka MSA).
Echo Park
Echo Park is a 154-unit, class-A apartment property built in 2016 and located in Bloomington, Indiana, home to Indiana University.
Club Meridian
Club Meridian is a 406-unit apartment community built in 1989 and located in Okemos, Michigan, an affluent and growing suburb of Lansing.
Forest Ridge
Forest Ridge Apartments is a Class B+ apartment community located in Bloomington, Indiana and built in three phases between 2005 and 2008.
Sycamore Terrace
Sycamore Terrace is a 250-unit, class-A apartment community built in 2011 and located in Terre Haute, Indiana.
Abbey Court
Full-Cycle Project
Net IRR: 38%
Equity Multiple: 3.44x
INVEST WITH US
Gray capital invests alongside our partners, joining sophisticated family offices and individual investors looking to take advantage of the unique benefits of multifamily real estate.
