Marcus & Millichap closes 288-unit multifamily asset sale

Noblesville, IN Marcus & Millichap completed the sale of Deer Chase Apartments, a 288-unit multifamily property. 

“Deer Chase was sold by the original developer after more than 20 years of ownership and operation. The Buyer, a locally owned and operated company, continues to add to its existing multifamily portfolio in the Indianapolis MSA, and specifically further grow its presence in Hamilton County, one of the fastest-growing counties in the state,” said Tony Rogers, senior director investments in Marcus & Millichap’s Indianapolis office. “The property is just minutes from Noblesville’s premier retail lifestyle center, Hamilton Town Center and Indiana's premier concert venue, Ruoff Music Center. With the immediate location’s superior infrastructure and plans for future growth, Deer Chase Apartments will benefit from strong rental demand for years to come.” Rogers, Aaron Kuroiwa, Austin Meeker, and Teddy Kenny of Marcus & Millichap represented the seller and procured the buyer. 

The property is accessible from Interstate 69, and Indiana State Roads 37 and 38. The 750-acre mixed-use development Saxony Village is a short drive away and shopping and nature trails are close by. The Ruoff Music Center is a mile from the property and Indianapolis is within commuting distance. 

Built in 2004 on over 13 acres, Deer Chase Apartments has a unit mix of two-, three- and four-bedroom floor plans. Apartments have private entrances, full-size washers and dryers, and exterior storage space. Community amenities include a fitness center, swimming pool, sports courts, playground, and picnic area.