Steadfast Apartment REIT III purchased a 512-unit apartment-home community in northeast Indianapolis for about $44.6 million.
Avery Point Apartments is 94.14% occupied and features 58 two-story buildings with one- and two-bedroom apartment homes and two-bedroom townhomes averaging 912 square feet, according to a company press release.
The company noted that it intends to renovate 75% of units in the community.
