October 23, 2020 – Anthony Spangler and Andrew O’Connell of Horvath & Tremblay have successfully completed the sale of the Futura Portfolio in Portage, Indiana. The portfolio consists of 5 multi-family properties and 20 units. The duo exclusively represented the seller to complete the transaction at a sale price of $1,450,000.
The five property Futura Portfolio is centered around the attractive and municipally maintained Green Oaks Park & Recreation Area. In total the Portfolio which has five properties on Futura Drive (3025, 3050, 3060, 3065 and 3075), consists of 20 units made up of 12, 1-Bedroom/1-Bathroom units and 8, 2-Bedroom/1-Bathroom units. The Properties had been under the same ownership for many years and the brick-masonry buildings are easy to manage. Each unit includes at least two parking spaces with additional striped parking spaces on the street for tenants and guests. The tenants are responsible for their own separately metered electricity, gas heat and hot water. The Futura Portfolio is well-located in a renter-dominated market and has a very low historical vacancy. The properties are located in a quiet residential neighborhood that abuts the Prairie Duneland Trail, a 22-mile recreational trail for biking, walking and jogging. Additionally, the properties are 1-mile from US Highway 6, the commercial center of Portage which offers an abundance of shopping, restaurants and outdoor recreation amenities within walking distance. The Futura Portfolio offers a critical mass of co-located, value-add multi-family properties in a supply constrained rental market.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.