BAM Acquires First Apartment Community in Evansville, IN
FOR IMMEDIATE RELEASE
Evansville, IN–September, 2017– Barratt Asset Management has acquired Abbey Court Apartments, a 250-unit garden style community located on Evansville’s Eastside. The apartment community is surrounded by the city’s highest concentration of employment centers as well as premier shopping, dining, and entertainment options. Further, the property benefits from access to the Lloyd Expressway and Green River Road (the two most critical retail and employment corridors in Evansville). The seller, Samaritan Companies, were represented by Chris Bruzas and Alex Blagojevich of Berkadia Real Estate Advisors.
“From day one, this project moved very quickly, as we completed the HUD assumption in three and half months. This is a testament to both seller and buyer teams working at a very effective pace,” explained Adam Ehret, Principal & Vice President of Acquisitions and Asset Management.
“We couldn’t be more excited to have Abbey Court in our portfolio. The asset was well cared for during Samaritan’s ownership and we will continue operate in the same fashion”, said Ivan Barratt, Founder & CEO. “Potential acquisitions in our space continue to experience fierce competition. We are ecstatic to continue to grow our portfolio and our team in this environment, while preserving our strict acquisition criteria.” With the acquisition of Abbey Court, this is BAM’s fifth apartment acquisition in the last eleven months.
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 multifamily apartment communities. BAM provides an array of real estate services, utilizing the knowledge and strengths of its employees and local market expertise to achieve maximum benefit for community residents as well as investors. From humble beginnings, BAM has grown from the management of a few 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 over forty 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, renovations, maintenance and valuable outside vendor relationships. BAM continuously strives to perform at a high level for its own portfolio as well as its third party property management clients.