Triad Real Estate Partners Announces Sale of Best-in-Class Mixed-Use Property in Lafayette, IN
The MARQ in Downtown Lafayette, IN
The MARQ Interior
The MARQ Exterior
Triad Real Estate Partners Announces Sale of Best-in-Class Mixed-Use Property in Lafayette, IN
The off-market strategy we executed helped optimize value on this asset. Knowing that groups have been working twice as hard allowed us to create competition that drove the price at our best & final.”
CHICAGO, IL, USA, November 15, 2021 /EINPresswire.com/ -- Triad Real Estate Partners is pleased to announce the recent sale of a 101-Unit, 110,075 SF Mixed-Use asset in downtown Lafayette, IN.— Michael Kulczycki
The building is a new construction mixed-use property located in the heart of downtown Lafayette and it sits directly alongside the Wabash River. It is also less than 2 miles away from Purdue University. The property was built in 2016 and experienced consistent occupancy growth during the pandemic which resulted in it being 100% occupied currently.
MARQ’s state-of-the-art facility includes garage parking, a fitness center, a resident lounge, and a private green roof terrace with a grill. The apartments come with private balconies, walk-in closets, and stainless-steel appliances. In addition, there is 23,238 SF of street-level commercial spaces that are fully occupied with a regional Old National Bank Branch and the popular local restaurant BRU Burger Bar.
The Seller is a family-owned regional developer based out of Indianapolis who takes pride in developing Class-A assets to strengthen neighborhoods in the state of Indiana. The Buyers are a family office based out of Los Angeles who plans to benefit from the management efficiencies and continue to diversify their Midwest portfolio of market-rate properties.
The price for this transaction was $34,050,000.
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Founded in 2010 by three partners who now have over 40 years of experience in commercial real estate, Triad Real Estate Partners strives to be the premier private client student housing and multi-family real estate brokerage company in the Midwest. The partners at Triad have closed over 500 transactions in 15 states covering nearly 12,000 multi-family and student housing units with an aggregate value of over $1.5 Billion. Triad has experience in all types of housing including affordable housing, conventional market-rate multi-family, and student housing. Triad is headquartered in Chicago’s Downtown Loop.
Media Contact:
Ryan Tobias
312.878.7362
rtobias@triadrepartners.com
Sean Lyons
Triad Real Estate Partners
+1 7735057326
email us here
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