Two multi-family properties change hands

Ohio-based private investor unloads combined 672 units

Two multi-family apartment properties sold for a combined $14.1 million in Indianapolis.   Greentree Apartments and Sawmill Apartments have a combined 672 units. The properties were sold as a package.   John Sebree, a senior investment associate in Marcus & Millichap Real Estate Investment Brokerage's Indianapolis office, had the exclusive listing to market the properties on behalf of the seller, an Ohio-based private investor.   Sebree was awarded the exclusive marketing listing after another brokerage had marketed the properties unsuccessfully for almost a year, according to Marcus & Millichap. He generated a national marketing campaign and a competitive environment with multiple offers before he secured and represented the buyer in the transaction, Indianapolis-based Saw Mill Realty LLC.   Greentree Apartments sold for $9.57 million. The property is a 456-unit garden-style apartment community on an expansive 33-acre site. Greentree was constructed in 196...

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