BARRATT ASSET MANAGEMENT (BAM) ACQUIRES 200-UNIT APARTMENT COMMUNITY
Bloomington, IN–January, 2017– The 200-unit garden style community was built in 1972, and is located at 1655 S Oakdale Dr, Bloomington, IN, adjacent to Interstate 69 providing easy access to the Bloomington metro area. The property is conveniently located less than four miles from Indiana University Bloomington. This is BAM’s third acquisition in the last 10 months as they continue to grow their portfolio.
The seller, Justus Companies, was represented by Chris Bruzas and Alex Blagojevich of Berkadia. Justus was the original developer of Oakdale Square and has owned and managed the property for over 40 years.
“Oakdale Square is a great addition to our portfolio; it is not every day that you are able to acquire a multi-family asset built in the 1970’s with almost no deferred maintenance.” Explains Adam Ehret, Principal, VP of Acquisitions and Asset Management for BAM. “Physically, the property looks like it was constructed in the early 2000’s and we attribute that to Justus’s long term care for the asset. Our plans call for: renovations to the kitchens, flooring upgrades and adding additional amenities.”
For more information about BAM visit: www.barrattassetmanagement.com.
Barratt Asset Management
Barratt asset Management is headquartered in Indianapolis, IN, and was formed in July 2010. BAM specializes in the acquisition and management of income producing properties, primarily multi family apartments communities. Our goal is to provide an array of real estate services, utilizing the knowledge and strengths of our employees and local market expertise to achieve maximum benefit for our residents and our investors. From humble beginnings BAM has grown from management of a small properties to over 100 million in total assets under management and ownership. With a mindset of steady and deliberate growth the company continues to expand its portfolio. The team is comprised of thirty employees with many decades of experience in apartment management and ownership. Further, the company strives to execute best practices in leasing/marketing, back office infrastructure, technology, timely service, internal strives to perform at a high level for its own portfolio as well as its third party property management portfolio.