Developer sells third phase of Indiana apartments

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CB Richard Ellis' Multi-Housing Group arranged the sale of The Woods of Eagle Creek Apartments Phase III in Indianapolis. The value of the transaction was not disclosed. The Woods of Eagle Creek, a 130-unit multifamily community, was named for its proximity to the Eagle Creek Reservoir and park on the city's northwest side. This community was developed and owned by the locally based Gene B. Glick Co., and sold to a subsidiary of Security Pacific Realty Co., a California-based 1031 investor. Los Angeles-based CB Richard Ellis is a commercial real estate services firm operating worldwide. *** What's your opinion? Send your Letter to the Editor to