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Sale of troubled Indianapolis apartment complex has closed, city officials say

Earlier in 2022, people living at Berkley Commons had their water cut off. Since then, Indiana Attorney General Todd Rokita and the city filed separate lawsuits.

INDIANAPOLIS — Officials said the sale of a troubled Indianapolis apartment complex had closed as of Thursday.

Earlier in 2022, people living at Berkley Commons had their water cut off. Since then, Indiana Attorney General Todd Rokita and the city filed separate lawsuits against the property owners. The owners of the complex owed Citizens Energy millions of dollars in missed payments, despite residents having paid their monthly utility bills.

On Thursday, an Indianapolis official said they are "monitoring the situation and intends to hold the current owner to the commitments that were made as part of the settlement agreement."

The full statement reads as follows:

“The sale of Berkley Commons has closed, and the City has received the payment it was guaranteed under its settlement agreement as part of that transaction. The sale of the other three JPC properties—Capital Place, Woods at Oak Crossing, and Covington Square—has not yet closed. We understand that the parties to the transaction are working through some remaining issues, with an intention of closing, if those remaining issues are resolved, by January. The City is monitoring the situation and intends to hold the current owner to the commitments that were made as part of the settlement agreement. While the City has granted a short one-month extension on the current closing deadline of December 31, it will not agree to dismiss its lawsuit against Berkley Commons and JPC until all four properties are out of the hands of the current owners and the City has received the payments to which it is entitled under the settlement agreement.”

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