GREENWOOD, IN – Herman & Kittle Properties is proud to announce that The Gables, a new $31 million apartment development located in Greenwood is now open and ready for leasing. This new construction development is located at 1497 West Smith Valley Road in Greenwood just east of Indiana State Road 135.
This apartment complex features 274 apartments in one-, two-, three-, and four-bedroom apartments. It features 28 apartments (12 one-bedroom, 11 two-bedroom, 2 three-bedroom and 3 four-bedroom) apartments that are fully ADA compliant. All apartments are in a two- or three-tale buildings constructed in 2018.
The Gables features both market rate and low income housing tax credit (LIHTC) apartments. It is conveniently located on Smith Valley Road close to shopping and restaurants on State Road 135. Nearby stores include Target, Wal-Mart, Menards, and more.
The convenience of State Road 135 also allows residents simple access to downtown Indianapolisand its wealth of amenities just 12 miles away. The City of Greenwood offers a thriving suburban community of nearly 50,000 residents and is conveniently located just south of the city of Indianapolis.
Residents of The Gables can delight in a wealth of amenities in their spacious, newly constructed apartments. Each apartment comes with new appliances, an in-unit washer and dryer, ceiling fans, a private patio/balcony, walk-in closets, a dishwasher, and more. Apartments also feature an intercom system.
There are several community amenities available for residents to delight in as well. The property features a community building with a theater/media room, security cameras at entrances, a business center, exercise room, and optional storage. Residents can also take advantage of other community spaces such as the swimming pool, playground, bike rack, and more. There is even a dog/pet area for residents with pets.
The complex has recently completed all construction and all types of apartments are currently available.
Retail centers such as the Greenwood Park Mall, a 149-store mall anchored by JCPenney’s, Macy’s, and Dick’s Sporting Goods is less than five miles away with a Best Buy store and a Kohl’s also located near the mall. Several local dining options are also located nearby on State Road 135 and on nearby U.S. 31.
The Gables is also located within the Center Grove school district, which is one of the top-rated school districts in the state of Indiana serving more than 7,000 students in grades K through 12. The wealth of cultural and recreational opportunities in downtown Indianapolis is also close by.
Other nearby recreational opportunities abound. West Side Park and Woodman Park are located east of the property and Dyes Walk Country Club is located South of the property on State Road 135. The Gables is also located just 20 miles from Indianapolis International Airport, offering flights to 50 different cities each day.

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HILLSBOROUGH, NC – Lexerd Capital Management, a New Jersey-based sponsor of private equity funds, announced that one of its funds has bought Ashford Lakes, a multifamily property located in Hillsborough, NC. The property, renamed The Lory of Hillsborough, consists of 166 garden and townhome style apartments dwelling units across twenty-two (22) two-tale multifamily apartment buildings and a one-tale community building. The property is situated on 21.8 acres, featuring a yucky rentable area of 178,944 square feet.
Terms of the transaction were not told. This is the first acquisition by Lexerd in its new Lexerd Capital Partners High Yield Fund III. This is the second acquisition for Lexerd in The Triangle – the Raleigh, Durham and Chapel Hill areas of North Carolina.
Situated on a private lake, the property has had over $2MM in recent capital improvements, including new exterior vinyl siding and roofing, as well as refreshed amenities including a clubhouse renovation, upgraded pool, and a new pedestrian bridge over the lake. Future capital projects include upgrading countertops and appliances and adding a boat dock and lake-side deck.
Hillsborough is located in the heart of North Carolina and the seat of Orange County. The Lory of Hillsborough is optimally located between I-85 and I-40, a 15-minute drive to both downtown Durham and Chapel Hill and a 23-minute commute to the Research Triangle Park – one of the most prominent high-tech research and development parks in the United States, employing over 50,000 area residents. Top employers include Duke University & Health System, IBM, GlaxoSmithKline and Blue Cross & Blue Shield of North Carolina.
Albert Lord III, CEO of Lexerd, said, “We are very excited to add this property to our multifamily portfolio, our second acquisition in the Triangle. The area boasts a stable and diverse local economy anchored in part by education institutions, as well as a healthy mix of high-tech research and manufacturing sector firms. Hillsborough s low cost of living and a well-educated population are also key factors that continue to drive considerable economic expansion. We believe The Lory of Hillsborough will benefit from these factors, as well as from a tight rental market as the demand for rental properties in close proximity to the Triangle remain high and supply stays low.
Lord added, We see positive trends for the multifamily housing market in 2020 and will continue to source attractive investment opportunities in the southeast US, making value for our investors.

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SEATTLE, WA – Lowe, a national real estate developer, investor and manager, has completed development of Talisman, a 286-unit multifamily and retail property at Redmond Town Center, a mixed-use lifestyle center in the heart of Redmond, Washington. Talisman captures the innovative spirit of Redmond s tech community and offers a new approach to apartment living. The only living option located directly within Redmond Town Center, Talisman is the first apartment building to be developed at the 1.2 million-square-foot Center, includes 9,400 square feet of ground floor specialty retail shops that complement the existing retailers at the Center. Preleasing has begun with the first occupancies anticipated in February 2020.
Lowe is delivering thoughtfully tailored contemporary residences with all the in-demand amenities to the exceptionally well loved community locale that is Redmond Town Center. Talisman is in the heart of a walkable, mixed-use neighborhood close to major employers and convenient to other area business hubs—including downtown Seattle, said Suzi Morris, senior vice president, Lowe.
With sophisticated industrial-style architecture and a location in the midst of an array of entertainment, dining, and shopping options within walking distance of historic downtown, Talisman offers a right metropolitan lifestyle. The mix of one- and two-bedroom residences feature a loft-inspired design with high-end finishes such as quartz countertops, stainless steel appliances, custom flooring and designer hardware. Many units have private balconies or patios. Additional residential convenience technology has been installed to further ensure each Talisman home works like a charm. Each residence is equipped with keyless entry and the IOTAS home app allowing residents to control outlets, door locks, and lighting from their phones or a smart speaker.
The plentiful community spaces were made with fantastic care to encourage residents and guests to gather and engage. Among these are an inviting lobby lounge offering coffee and water stations; a co-working space; community sports bar with kegerator; resident lounge; a two-level fitness center with yoga room; a maker space where tenants can meet to make, invent and learn; and a rooftop deck with outdoor kitchen and fire pit. Community spaces will be programmed with engaging activities and are available for informal gatherings. Residents will delight in outstanding services with a concierge on site, and supreme convenience with a package room for deliveries and the Brevvie (briefly rent everything) system offering small term rental of a wide variety of items from Yeti coolers to Dyson vacuum cleaners and karaoke machines. The pet friendly property features a covered rooftop pet run and pet wash station.
The majority of the retail space at Talisman has been leased, with just one space remaining. Talisman retailers include: Row House, an immersive, energetic indoor rowing class that blends low-impact cardio, resistance training, stretching, and rhythm-based rowing; F45 (Functional 45), a mix of circuit and HIIT style workouts geared toward everyday movement; Musashi, the longtime Seattle Japanese food favorite with its well loved mix of quality, comfort, value, and efficiency; The Airrosti Chiropractic health care group brings their quality-care chiropractic approach focused on quick effective relief.
In close proximity to several industry leading tech campuses, Talisman is a place where technology and worlds connect. The Talisman lifestyle takes inspiration from the spirit of its high-tech neighbors and the new technological discoveries being developed throughout Redmond that make life more efficient, convenient, and upscale. Redmond Town Center has six office buildings with approximately 582,375 square feet occupied by Microsoft and AT&T. Redmond is situated 15 miles northeast of the Seattle central business district, just minutes from the Microsoft World Headquarters, and surrounded by leading software, technology research, and aerospace companies. The location offers brilliant access to Highways 520 and 202, the Microsoft Connector shuttle bus, with a stop located across the street, and the Overlake Light Rail Station plotted for 2023, with an extension to downtown Redmond by 2024.
Lowe bought the 1.6-acre Talisman site in 2015. The project team includes Lowe as developer, Compass Construction as general contractor, Encore Architects for building design, Ankrom Moisan for interior design, Communita Atelier for landscape design, KPFF as Civil Engineer and BCQ as structural engineer, JSH for retail leasing and Greystar as property manager.
Lowe s activities in the Pacific Northwest date to the firm s development of the Klahanie master-plotted community in the 1980s and 1990s. Lowe has made numerous commercial and hospitality property acquisitions in the Seattle area, and most recently completed development of the highly successful LUMA condominium building in Seattle s First Hill neighborhood, and just broke ground on a 55-unit apartment complex in Seattle s Yesler Terrace neighborhood. Lowe is a joint venture partner in Suncadia Resort in Cle Elum, Washington and Sunriver Resort in Central Oregon.

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