Indianapolis-based Gene B. Glick Co. recently purchased Kirby Manor Apartments in Hobart.
The 80-unit 55-plus apartment community was bought by the privately held real estate ownership, development and management firm, which owns more than 21,000 multi-family units in 13 states. The apartments are fully occupied.
“The Glick team is looking forward to implementing additional efficiencies that will further benefit the overall living experience for the residents of Kirby Manor,” said Colin Atkinson, Glick Co. vice president of real estate development, in a press release.
Construction of the Kirby Manor Apartments was completed in 2006 on 5.11 acres between Interstates 65 and 95. It is near St. Mary Medical Center, Southlake Mall and Cressmoor Prairie Nature Preserve.
The property, which features one- and two-bedroom units, complies with Low-Income Housing Tax Credit regulations. Those older than 55 years old and whose income is 30 to 60% of the area median income are the target tenants.
Amenities include a 24-hour fitness center, on-site leasing office, picnic and grilling areas, two 24-hour laundry facilities, outdoor walking space and community rooms.
North Carolina-based Capstone Companies facilitated the sale. The Gene B. Glick Co. was founded in 1947 to help veterans build homes for their families.