Developer buys Indiana multifamily project

Plans to add higher-end units by next year

The developer of a brand-new, 264-unit multifamily project in Plainfield, Ind., has sold the property to a Chicago-based developer for an undisclosed price.

Flaherty & Collins, which developed the class AA project called Central Park at Metropolis Apartments, unloaded the property on Becovic Cos.

According to a press statement, this latest acquisition is Becovic’s third in the Indianapolis area. The company also owns The Springs Luxury Waterside Apartments and The Grande Reserve at Geist.