BAM Expands Portfolio for the Second Time in Six Months
BAM Acquires 237- Unit Apartment Community in The Near Westside
INDIANAPOLIS, IN., October, 2016 – Indianapolis based Barratt Asset Management (BAM) acquired a 237-unit garden style community on the near Westside in the Town of Speedway. Lexington Green/Villa Capri is located at 2525 Parkwood Dr. The property is within walking distance of Speedway High School, Frank Wheeler Elementary School, Speedway Public Library and Meadowood Park. The sellers, Circles Edge Limited, LLC were represented by Scott Pollom of Cushman & Wakefield. This is BAM’s second acquisition in the last six months.
“It’s been amazing to witness Speedway’s tremendous growth over the past 12 months,” said Ivan Barratt, Founder and CEO of Barratt Asset Management. “Lexington Green/Villa Capri has been on our radar for some time and it is a great addition to our portfolio. However, we are not only investing in Lexington Green Villa Capri but also in the Town of Speedway and that is an amazing opportunity.”
“We are excited about the future of Speedway and are looking forward to getting our renovation project underway. Plans call for over two million in property upgrades, which we hope to complete in the next eighteen months,” explained Adam Ehret, Principal and Vice President of Acquisitions and Asset Management.
Barratt Asset Management was formed in 2010 and is now headquartered in the heart of Indianapolis. BAM specializes in the acquisition and management of income producing properties, primarily multi-family apartment communities. BAM utilizes the knowledge and strengths of its employees and local market expertise to provide an array of real estate services to achieve maximum benefit for residents, owners and investors. From humble beginnings BAM has grown from management of a few small properties to over 75 million in total assets. With a mindset of steady and deliberate growth the company continues to expand its portfolio. The team is comprised of 30 employees with many decades of experience in apartment management and ownership. Further, the company strives to execute best practices in leasing, marketing, back-office infrastructure, technology, timely service, renovations, maintenance and valuable outside vendor relationships. BAM continuously strives to perform at a high level for its own portfolio as well as its third party property management portfolio.