Woodlark gains units near Ball State University

Woodlark Capital LLC on Wednesday announced it acquired the Forest Oaks Apartments in Muncie, Ind., on behalf of tenant-in-common investors.

The value of the transaction was $8.4 million.

Forest Oaks is a 136-unit apartment complex serving the student, faculty and local professional population connected with Ball State University.

Situated on 12.3 acres and built in 1998, Forest Oaks consists of 10 two-story apartment buildings and a clubhouse/leasing office. The apartment property offers one-, two- and three-bedroom units. Amenities at the property include a clubhouse complete with a business center and fully equipped kitchen, fitness center, swimming pool and sundeck, and detached carports and garages.

Forest Oaks Apartments is Woodlark's first student housing offering of 2007, according to a press statement.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.