1031 investors snag Indiana apartments

Site located outside state's capital

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CB Richard Ellis' Multi-Housing Group arranged the sale of Lexington Green/Villa Capri Apartments in Speedway, Ind. The value of the transaction was not disclosed. The 237-unit community was 95 percent occupied at the time of sale. Real Star Properties sold the complex to a Florida-based, private 1031 investment group. Los Angeles-based CB Richard Ellis Group Inc. is a commercial real estate services firm operating worldwide. ...