Indianapolis – portfolio of single family homes
Under the Cordia USA brand, Futureal began acquiring its portfolio of 180 single family homes in Indianapolis, Indiana in December 2012. Each property was carefully and rigorously selected on an individual basis, primarily in the most attractive parts of the eastern metropolitan area by our in-house acquisition and property management team. Our team has purchased, renovated, rented and now manages this large portfolio of quality rental homes. The average property in this portfolio has three bedrooms, one bathroom and is 1,100 square feet in size. The total value of the portfolio is worth in excess of $12 million.
Indianapolis is the 12th largest city in the US and has consistently achieved above the national average in terms of economic growth and employment. It is located in the Midwest of the US and is a primary industrial, commercial and transportation center for the region, while the large number of healthcare and governmental employers supports a thriving economy that is also boosted by tourism and sports. Indianapolis has a high level of wealth thanks to the stable and diversified economic base and the city’s demographic characteristics. The strategy was to purchase the homes at a discount to market values that would provide strong cash yields from the rents and sell the portfolio after five years.