Keystone at the Crossing Sold
(photo courtesy of Equus Capital Partners)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA well-known mixed-use business park in Indianapolis is under new ownership. Pennsylvania-based Equus Capital Partners Ltd. has sold the 27-acre Keystone at the Crossing campus on the city’s north side. Financial terms of the deal were not disclosed.
The property was sold to a joint venture between a fund managed by New York-based DRA Advisors LLC and M&J Wilkow Properties LLC in Chicago. Equus says the development was 83 percent occupied at the time of the sale.
Keystone at the Crossing covers more than one million square feet of space and includes is anchored by The Fashion Mall at Keystone shopping center. It also features six office buildings and amenities for tenants, including indoor and outdoor tenant lounge areas, flexible conference facilities, and a 4,000-square-foot fitness center.
"Keystone at the Crossing’s surrounding mixed-use options continue to increase property appeal among tenants and drive impressive leasing activity and rent growth," Christopher Locatell, senior vice president and director of dispositions for Equus, said in a news release. "The synergy created by these area amenities and impressive transportation access has given Keystone at the Crossing a tremendous momentum that continues to build on itself."
Equus originally acquired the property in 2005.