Two property – 284 Unit – Multi-Family portfolio located in Anderson, Indiana, currently in receivership. Both complexes are high occupancy class “C” properties located just four miles apart.

Cross Lakes is currently 98.6% occupied, where Giant Oaks is at 97.3%. Both properties are below market rents and are free & clear of existing financing.

Located in Madison County, Indiana, on the banks of the White River, the
City of Anderson is a charming, hard-working community of approximately
55,000 residents. While Anderson has a history and identity all of its own,
it is also conveniently located just 35 miles northeast of Indianapolis via
Interstate 69. Anderson is a principal city of the Indianapolis-Carmel-
Anderson Metropolitan Statistical Area, which has a population of almost
2 million, and is the 34th most populous in the United States.



In March 1887, natural gas was discovered in Anderson. As the Indiana Gas Boom began, this discovery led to new businesses that could use natural gas, such as glass-making, to move to the city. Anderson grew to such proportions that a Cincinnati newspaper editor labeled the city "The Pittsburgh on White River." Today, Anderson is perhaps best known for housing the headquarters of the Church of God, which employs 140 people locally, and claims to have more 1,170,000 adherents across the globe.



The two largest employers are both hospitals - Community Hospital Anderson and Saint Vincent’s Hospital - which employ approximately 1,880 and 1,340, respectively. Other large employers include Conduent - formerly the ubiquitous Xerox - which employs 850 people in a call center, and Nestle, which employs 750 at a food processing and distribution facility.