Sheiner Group/Living Well Homes Acquires 432 Units in Portage, IN
The Floridant/10265760

PORTAGE, Ind. - Floridant -- Sheiner Group and Living Well Homes have successfully acquired Port Crossing Apartments in Portage, Indiana sold by Pedcor Living, the original owner and developer of the 432-unit property. Located at 3300 Port Crossing Court, Port Crossing offers its residents a well-maintained, low-density environment replete with acres of green space and thoughtful 1 to 3-bedroom floorplans surrounding a man-made lake.

This is the group's first acquisition in Indiana: on March 27, 2024, Port Crossing officially joins their portfolio of value-add multi-family assets across Arizona, North Carolina, Kansas, Missouri, and Albuquerque.

"We are very excited about everything going on in Portage and intend on bringing lifestyle-enhancing amenities and professional property management to our latest acquisition," says Lloyd Sheiner the group's Chairman.

Portage is a growing, business and family-friendly suburb of the Chicago MSA that benefits from the expedited South Shore commuter train line and thousands of jobs located along that corridor. The community is also near several picturesque beaches and national parks along Lake Michigan. The property fronts Portage High School with a student body of 2300 and is home to hundreds of major retailers including Walmart and Menards.

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"An important factor for us in considering the submarket is that there is currently no new multifamily construction planned for Portage and the current occupancy is 98%," says Germain Villeneuve, VP Acquisitions. Sheiner adds that Pedcor was a foundational player in building the multi-family landscape of Northern Indiana and the acquisition, completed on an all-cash basis and on an expedited timeline, was seamless.

"We look forward to continue acquiring well-built, value-add real estate in this excellent pocket of the country."  Living Well Homes plans to renovate and rebrand the property, adding amenities such as dog parks, a poolside lounge, a fitness center, and more.

To learn more about Living Well Homes visit www.livingwellhomes.com.
For investor questions visit www.sheinergroup.com.