Tempe, Ariz.-based SANTÉ Realty Investments in recent months closed on the acquisition of a 10-story MOB in downtown Indianapolis. (Photo courtesy of Innovcare Healthcare Real Estate)
INDIANAPOLIS, IN — SANTÉ Realty Investments of Tempe, Ariz., has just closed on The Meridian Office Building in Indianapolis. The 10-story, brick building is a multi-tenant medical office building consisting of 92,000 square feet. With just 70% occupancy, there is excellent opportunity to create value through targeted renovation and good management combined with a strong marketing effort.
“This is a perfect SANTÉ opportunity,” claims Jim Small, Managing Director of SANTÉ Realty Investments. “We are able to find under-valued properties through our relationships with a proprietary network of real estate brokers across the USA.”
SANTÉ has a proven approach, which is finding under-utilized properties and making high-impact targeted improvements to upgrade the property. Then they are ready to aggressively marketing to maximize rental income. In the case of the Meridian property, SANTÉ Realty Investments will rehab two of the unoccupied floors, to enable the rapid lease of these spaces. Other repairs will be to the roof and parking lot. A new property manager is expected to improve building operations and maintenance.
This is an ideal situation for SANTÉ investors, who are looking for safe, double-digit returns. And over the years SANTÉ has consistently delivered.
According to Jim Small, “the stable nature of the Indianapolis area makes this strong cash flowing property ideal for our investors seeking consistent, regular distributions. We are well situated, for the building is within the Meridian Street growth corridor. Much of the area surrounding the building is being developed with apartments, as well as commercial buildings.
The nearby Children’s Museum is expanding and will bring more business to the area. With 1.25-million annual visitors, the Children’s Museum is the largest in the world with 472,000-square feet and 11 major galleries. As the number one non-sports attraction in Indianapolis, its presence will contribute to the interest and activity in the Meridian corridor. SANTÉ believes the museum will stimulate area property values, including the Meridian Office Building.
Indianapolis has a diversified economy with major contributions from education, health care and finance. Also, tourism is a vital part of the economy as the city plays host to numerous conventions and sporting events such as the Indianapolis 500. Other major sporting events include the Brickyard 400 and the Men’s and Women’s NCAA Basketball Tournaments.
SANTÉ Realty Investing provides effective and easy solutions for its investor clients who wish to enjoy the benefits of fixed-income investments which minimize risk, preserve capital and provide long-term growth of wealth. They take the complexity out of the traditionally challenging tasks of real estate acquisition, property management, portfolio management and tax issues. SANTÉ has a diversified portfolio ranging from office and commercial to residential properties.
For information on SANTÉ Realty Investments, please contact: www.SANTERealty.com, 1 480.398.4954, or email at: NSkankey@SANTERealty.com.
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