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17748 Springmill Rd - 17748 Spring Mill Road 13.34 Acres of Residential Land in Westfield, IN 46074
Investment Highlights
- 120 Total Units - 80 Assisted Living, 40 Memory Care. (48 Independent Living Cottages will be in separate, second phase.)
- Site Under Contract and Construction Set to Start in Q2 of 2026, 15 Month Construction Period
- Cap Rate 8% | Target LP IRR: 22.5% | 1.85x Equity Multiple
- Focusing on the Middle-Income Senior Population (60% of all Seniors)
- 5 to 7-Year Hold Period with Flexible Takeout for Investors
- Opening Target: Mid-2027 (June 2027)
Executive Summary
Bradley Company is pleased to offer this JV Opportunity on this To-Be-Built Senior Housing Property in Westfield, (Suburban Indianapolis), IN. This opportunity allows an investor to join with a very qualified, experienced and seasoned Sponsor group in filling a need in the middle-income Senior Living market. Phase I includes 120 Units with Assisted Living and Memory Care. Phase II will include 48 Cottages of 55+ Active Adult Apartments.
Property Facts
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Proposed Use | Apartment Units - Senior |
| Property Type | Land | Total Lot Size | 13.34 AC |
| Zoning | Senior Housing | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units - Senior |
| Total Lot Size | 13.34 AC |
| Zoning | Senior Housing |
1 Lot Available
Lot
| Lot Size | 13.34 AC |
| Lot Size | 13.34 AC |
Description
To-Be-Built, JV Opportunity. Bradley Company is pleased to offer this JV Opportunity on this To-Be-Built Senior Housing Property in Westfield, (Suburban Indianapolis), IN. This opportunity allows an investor to join with a very qualified, experienced and seasoned Sponsor group in filling a need in the middle-income Senior Living market. Phase I includes 120 Units with Assisted Living and Memory Care. Phase II will include 48 Cottages of 55+ Active Adult Apartments.
Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
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17748 Springmill Rd - 17748 Spring Mill Road