Sila Capital, a real estate investment and asset management firm, is happy to announce its next joint venture project with H.M. Mac, an Indiana development and construction company.
Patterson Point, a 480-bed student housing complex, will be comprised of four buildings located at 323 S. Westplex Ave., Bloomington, Indiana. The apartment portion of the project will consist or 192,700 SF, while the commercial space will be 31,000 SF. There will 391 garage parking spaces as well as 60 surface spaces, providing sufficient parking for the residents. The property is located about 1.2 miles from downtown Bloomington and 1.6 miles from Sample Gates, a welcoming entryway to the Indiana University campus, making the property an accessible and convenient place for residents.
Patterson Pointe is a purpose-built, upscale student housing project. It will offer 1,2,3, and 4 bedroom units with bed/bath parity. A rooftop pool and terrace, garage parking, clubhouse, and fitness center are a just a few of the amenities that will be included.
The groundbreaking ceremony is scheduled for February 3, 2017, with the project's anticipated completion date in August 2018, and pre-lease-up starting in the fall of 2017.
Sila Capital, a privately held real estate investment and asset management firm based in Indianapolis, IN, specializes in investing, managing, and participating in joint venture opportunities.
Sila has earned a reliable reputation as an asset manager, successfully acquiring, financing, developing, leasing, owning and managing real estate assets, and putting capital to work on behalf of a diverse client base.
The company is actively seeking value-add and opportunistic commercial properties ranging from office, multifamily, land and mixed-use asset acquisitions throughout the Midwest. Sila will also consider other areas of the country as well.