Birge & Held is a national apartment real estate, private equity and investment firm located in Carmel, Indiana. In an effort to take advantage of strategic real estate acquisition opportunities in the distressed real estate marketplace, J. Taggart Birge and Andrew J. Held started what is now Birge & Held in 2008. Birge & Held has acquired and managed over $400,000,000 in multi-family assets across the country and currently employs over 80 professionals, per the Sponsor. Through private equity and creative debt structures, Birge & Held continues to grow its portfolio of assets. For capital investors who seek to identify and pursue apartment real estate opportunities, Birge & Held provides an experienced operating partner.

Address: | 3410 Rue Chanel Indianapolis, IN 46227 |
Submarket: | South Indianapolis |
Year Built: | 1968 |
Current Occupancy: | 95% |
Number of Units: | 208 units |
Net Rentable Area: | 176,783 square feet |
Buildings: | 25 total buildings 20 two-story townhome buildings 4 two-and-one-half-story buildings 1 single-story clubhouse building |
Parking: | 314 total spaces |
In Place Rent Per Unit: | $633 |
Effective Rent Per Square Foot: | $0.76 |
UNIT TYPE | TOTAL UNITS |
UNIT SF | TOTAL SF | IN PLACE RENTS |
PSF |
---|---|---|---|---|---|
Studio | 11 | 400 | 4,400 | $475 | $1.19 |
1 x 1 | 53 | 710 | 37,630 | $542 | $0.76 |
1 x 1 | 6 | 780 | 4,680 | $586 | $0.75 |
1 x 1 | 47 | 820 | 38,540 | $616 | $0.75 |
2 x 1 | 52 | 972 | 50,544 | $699 | $0.72 |
2 x 1 | 39 | 1,051 | 40,989 | $740 | $0.70 |
TOTAL/AVG | 208 | 850 | 176,783 | $633 | $0.76 |
Property Highlights
- The Property is located in close proximity to major transportation routes, commercial areas, retail amenities, employment centers and colleges.
- The Property is proximate to both the University of Indianapolis and Indiana University - Purdue University, which allows it to serve as a viable housing option for students at both universities. An estimated 20-30% of the current tenants are college students.
- The Property underwent a $3.2 million rehab in 2002 following a tornado. The rehab included refurbishment of 67 units, renovation of the clubhouse and extensive landscaping. An additional four units were renovated in 2013/14 and are currently generating rental premiums of $80 over non-renovated units.
- Amenities consist of a clubhouse with a community room, 24-hour fitness center, pool with sundeck, sauna, playground, basketball courts, tennis courts, storage, 24-hour emergency maintenance and laundry centers in each building.
- The Property is comprised of studio, one and two bedroom units which is ideal for single individuals and small households. The average household size in the Property’s vicinity is 2.4 people.
The information on this Page is qualified in its entirety by reference to the more complete information about the offering contained in the Sponsor’s Investment Documents. The information on this Page is not complete and subject to change at the Sponsor’s discretion at any time up to the closing date. The Sponsor’s Investment Documents and supplements thereto contain important information about the Sponsor’s offering including relevant investment objectives, the business plan, risks, charges, expenses, and other information, which you should consider carefully before investing. The information on this Page should not be used as a basis for an investor’s decision to invest.
Risk of InvestmentThis investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor’s assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor’s business plans (“Assumptions”) will be true or that actual performance will bear any relation to Sponsor’s Assumptions, and no guarantee or representation is made that Sponsor’s Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. A loss of part or all of the principal value of your investment may occur. You should not invest unless you can readily bear the consequences of such loss. Sponsor’s Assumptions should not be relied upon as the primary basis for your decision to invest.
No Reliance on Forward-Looking Statements; Sponsor AssumptionsSponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor’s Investment Documents, which you should carefully review. Sponsor is obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor’s forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor’s investment objectives, detailing Sponsor’s anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor’s forward-looking statements as a basis to invest.
Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor’s Assumptions or forward-looking statements.
No Reliance on Past PerformanceAny description of past performance is not a reliable indicator of future performance and should not be relied upon as the primary basis to invest.
Sponsor’s Use of DebtA substantial portion of the total cost of the real estate asset acquired by the Sponsor with investor funds (“Property”) will be paid with borrowed funds, i.e., debt. Sponsor’s estimated rates and terms of the debt financing are subject to lender approval, and there is no assurance that the Sponsor will secure debt at the rates and terms presented on this Page or in the Sponsor’s Investment Documents, or at all. The use of borrowed money to acquire real estate is referred to as leveraging, which can amplify losses and could result in lender foreclosure. In addition, if the debt includes a variable (or “floating”) interest rate, the total amount of interest paid over the term of the debt will fluctuate and can increase. As a result, Sponsor’s use of debt can result in a loss of some or all of your investment.
Sponsor’s Offering is Not RegisteredSponsor’s securities offering will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon the exemptions from registration pursuant to Rule 506(c) of Regulation D as promulgated under the Securities Act (“Private Placement”). In addition, the offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership interests) are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under applicable state and federal securities laws pursuant to registration or an available exemption. All Private Placements on the Platform are intended solely for “Accredited Investors,” as that term is defined in Rule 501(a) under the Securities Act.
No Investment AdviceNothing on this Page should be regarded as investment advice (either with respect to a particular security or regarding an overall investment strategy), a recommendation, an offer to sell, or a solicitation of or an offer to buy any security. Advice from a securities professional is strongly advised to understand and assess the risks associated with real estate or private placement investments.
1031 Exchange RiskInternal Revenue Code Section 1031 (“Section 1031”) contains complex tax concepts and certain tax consequences may vary depending on the individual circumstances of each investor. You should consult with and rely on your own tax advisor about the tax aspects with respect to your particular circumstances.