The Avenue Trades Hands Near Indiana University-Purdue University Indianapolis

Indianapolis — Newmark has brokered the sale of The Avenue, a 358-bed student housing property near Indiana University-Purdue University Indianapolis (IUPUI). The asset features one-, two- and four-bedroom units with a variety of floor plans. The property sits on 3.4 acres directly adjacent to the northern edge of campus. Ryan Lang, Jack Brett and Debbie Corson of Newmark represented the seller, Preiss Cos., in a partnership with Investcorp. Atlanta-based Student Quarters was the buyer. IUPUI is a core campus of Indiana University that also offers Purdue University degrees. It is the result of a 1969 merger between Purdue Indianapolis Extension Center and Indiana University Indianapolis.