Pleasant Run Senior Apartments
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Indianapolis, IN

Residential - Apartments

Due Diligence and Development Oversight


    RPL provided due diligence and development oversight services on behalf of an institutional equity partner.

    Unique Approach

    • New partners and deal structure involved for client, leading to RPL’s influence of various elements to get both parties comfortable with the approach.
    • Site hit hard with weather during early sitework operations, setting back schedule.
    • Site includes a tract of land that can be sold in the future for additional development.


    • Delivered 2 months behind initial plan due to weather delays.
    • Delivered on budget.

    Scope of Work

    New development of a wood frame, sloped roof, slab-on-grade active adult (age 55+) apartment building including 5 one-bedroom units and 114 two-bedroom units, community room, family room, fitness area, salon, coffee bar, library, individual storage closets, 40 garage spaces, and surface parking.

    Project Summary

    • Client: One of the largest institutional private equity investment firms
    • Location: Indianapolis, IN
    • Size: 119 units, 3 floors, 129,100 RSF, 141,900 GSF, 12 acres
    • Timeline: 2017 to 2021
    • Services: Due Diligence and Development Oversight
    • Cost: $8.8 million
    • Architect: Mussachio Architects
    • Contractor: Clover Construction Management West Corps
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