Texas firm takes on University Loft property
HANCOCK COUNTY — A real estate investment firm based in Houston has acquired a property in western Hancock County for $33 million where a furniture maker operates.
An affiliate of Pinchal & Company bought the parcel at 2588 Jannetides Boulevard containing University Loft Co.’s manufacturing facility as well as the two adjoining parcels at 2718 Jannetides Boulevard containing a large outdoor storage area. All parcels were purchased from an affiliate of University Loft Co.
Brian McMackin, managing partner of Pinchal & Company, told the Daily Reporter that the firm actively pursues acquisitions and developments in markets in which it’s owned product in the past, adding it owns properties throughout Indiana.
“We’re very familiar with Indianapolis and the Midwest as a whole,” McMackin said. “Our business model is to acquire and develop Class-A, institutional quality industrial assets across the country. This fits into that model.”
European Commission OKs Elanco’s Bayer acquisition
GREENFIELD — The European Commission has granted approval of Elanco Animal Health’s pending acquisition of German-based Bayer AG’s animal health business, Elanco announced in a news release.
Elanco continues to progress toward a closing date of Aug. 3.
In addition to European Commission approval, Elanco has received antitrust clearance for the transaction in China, Colombia, South Africa, Turkey, Ukraine, Vietnam and provisional clearance in Brazil. Elanco continues to cooperate with agencies in other jurisdictions. The company also fully secured financing early in the first quarter of 2020 to complete the transaction through its completed equity issuance and pricing of its Term Loan B, which will fund at deal close.
Home sales statistics rebounded in May
HANCOCK COUNTY — Monthly stats from an Indianapolis real estate firm for May 2020 show a 1.9% increase in the number of homes sold in Hancock County, while home sale prices also increased — up 6%, to an average price of $230,113, compared to year-to-date 2019.
The county’s housing inventory decreased significantly in May, down 43.8%, compared to this time last year, according to F.C. Tucker Company.
Data also indicates a 16-county central Indiana region rebounded in May as well. Home sales increased for the first time in two months, while home prices continued their upward climb and inventory saw a significant decrease.
Pended home sales increased 2.8% and the average home sale price for the region in May was $245,422, an increase of 5.6%. The year-to-date average home sale price increased by 8.1%, to $235,918. Inventory decreased by 31% compared to May 2019.
