Marcus & Millichap has been retained to sell a portfolio of six build-to-rent communities across the Indianapolis metropolitan area made up of 322 pre-built homes.

All six communities are being built by Indianapolis-based Davis Homes, a third-generation custom homebuilder, which has completed most horizontal infrastructure. Each community can be acquired individually, with investors selecting their desired floor plans prior to vertical construction.

Marcus & Millichap’s Scott Harris, senior managing director investments, and Samuel McCarthy, senior associate, are marketing the portfolio on behalf of Davis Homes, with a call for offers set for Sept 8.

The communities in the portfolio include:

Available floor plans, which vary by community, include three-, four- and five-bedroom layouts ranging from 1,450 to 2,770 square feet, with rents expected to span from $1,675 to $2,750 a month depending on home size and location.

The homes will be built and delivered in tranches of four to six homes per month until completion, with construction on each home estimated to take four to five months. Each community is projected to take between 12 and 18 months for full buildout upon all horizontal infrastructure being finalized.

A seventh community, Westhaven, consisting of 72 rental homes and located just west of Indianapolis International Airport in suburban Avon, was originally part of the portfolio and is currently under contract.

The Harris and McCarthy team sold more than 800 rentals homes in 2021, including a portfolio of 505 homes in Cincinnati, St. Louis and Kansas City, Missouri.  

Subscribe to our email list to read all news first.

Subscribe to our email list to read all news first.

Subscribe to our email list to read all news first.