We are thrilled to announce Fund 16’s final investment and Fund 17’s first investment. On Friday, September 29th, we closed on Legacy Park Apartments, a multifamily property located in Brownsburg, Indiana, part of the Indianapolis MSA.
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Announcing the Newest Apartment Addition to Wilkinson Properties Fund 16 & Fund 17: Legacy Park
We are thrilled to announce Fund 16’s final investment and Fund 17’s first investment. On Friday, September 29th, we closed on Legacy Park Apartments, a multifamily property located in Brownsburg, Indiana, part of the Indianapolis MSA.
Legacy Park Apartments
Located in Hendricks County, Indiana, the local community is renowned for its rapid growth and prosperity. Constructed in 2009, this 250-unit property boasts a low-density site that is encompassed by upscale residential homes, presenting an excellent chance to upgrade unit interiors and amenities.
Set amidst the picturesque beauty of Brownsburg, Indiana, Legacy Park offers a convenient location, just a short drive away from Indianapolis. The neighborhood provides abundant shopping, dining, and parks, making it an ideal place to reside. Impressively, a remarkable 62% of residents within a 1-mile radius of Legacy Park have an annual income exceeding $100,000, reflecting the strong economic nature of the area.
Wilkinson will be pursuing a light value add renovation and repositioning strategy.
Once fully funded, we expect that Fund 16 will have contributed nearly $4.5 million, Fund 17 will have contributed over $9.5 million, Wilkinson will have contributed over $1.5 million, and the Wilkinson Employee Investment Program, a long-term employee incentive plan, will have contributed nearly $50,000.
Since entering the market in 2005, Wilkinson has grown along with the Indianapolis multifamily scene, acquiring 12 Indianapolis MSA properties consisting of nearly 4,100 units and just shy of $650 million in transactional volume, while in 2022 conducting the largest ever multifamily transaction in Indianapolis, selling a six-property portfolio at a price of nearly $250 million. Legacy Park is Wilkinson’s 12th Indianapolis MSA multifamily property, and one of 62 apartment home communities acquired nationwide since 1992.
If you would like to learn more about Legacy Park or passive investing through Wilkinson Properties Fund 17, please click on the following links to schedule a time for us to visit or to review Fund 17 deal highlights.
