Fordham & Ralston

For lenders

The operating picture, up front

Fordham & Ralston (heritage est. 2006; formerly Indy Collective Property Group) is an Indianapolis owner-operator of eleven historic multifamily assets. We believe a lender's first diligence pass should take minutes, not weeks — start here.

Strategy

Our focus is straightforward: acquire under-managed Class B and C multifamily assets in Indianapolis submarkets we know block by block, then create value through disciplined renovation and hands-on operation. We perform real-time market research, gather submarket intelligence, and complete thorough due diligence — targeting assets in neighborhoods that have performed through good times and bad.

What we look for in an acquisition: location strength and competitive supply, quality of the original build, condition verified through close inspection before purchase, clear scope to upgrade what residents value most, and fit with our growth plan. Capital improvements standardize the systems that drive operating cost — membrane roofs, vinyl windows, PEX supply plumbing, forced-air HVAC, LED lighting — for durability, reliability, and energy efficiency.

Portfolio

  • St. Regis Apartments
    Address
    26 E 14th St, 46202
    Submarket
    Old Northside
    Unit mix
    Studio, 1 Bedroom, 2 Bedroom
  • Piccadilly Apartments
    Address
    28 E 16th St, 46202
    Submarket
    Old Northside
    Unit mix
    Studio, 1 Bedroom, 2 Bedroom, 3 Bedroom
  • Penn Arts ApartmentsBuilt 1923
    Address
    111 E 16th St, 46202
    Submarket
    Old Northside
    Unit mix
    1 Bedroom, 2 Bedroom
  • Village at Fall Creek
    Address
    3528 E Fall Creek Pkwy N Dr, 46205
    Submarket
    Mapleton-Fall Creek
    Unit mix
    Studio, 1 Bedroom
  • The Courts of Monon
    Address
    3605 Balsam Ave, 46205
    Submarket
    Mapleton-Fall Creek
    Unit mix
    Studio, 1 Bedroom
  • The Reese
    Address
    5750 E Washington St, 46219
    Submarket
    Irvington
    Unit mix
    1 Bedroom, 2 Bedroom
  • Suites of Irvington
    Address
    5730 E Washington St, 46219
    Submarket
    Irvington
    Unit mix
    Studio, 1 Bedroom, 2 Bedroom
  • Historic Audubon CourtBuilt 1914
    Address
    5703 E Washington St, 46219
    Submarket
    Irvington
    Unit mix
    Studio, 1 Bedroom, 2 Bedroom, 3 Bedroom, 4 Bedroom, Townhomes
  • Butler Place
    Address
    5230 E Washington St, 46219
    Submarket
    Irvington
    Unit mix
    Studio, 1 Bedroom
  • The Essex
    Address
    940 Woodruff Place Middle Dr, 46201
    Submarket
    Woodruff Place
    Unit mix
    1 Bedroom, 2 Bedroom, Suites
  • Historic Central State Mansion
    Address
    202 Steeples Blvd, 46222
    Submarket
    Central State
    Unit mix
    1 Bedroom, 2 Bedroom

Diligence

Lender questions, answered

What does the Fordham & Ralston portfolio consist of?

Eleven historic multifamily communities across five Indianapolis neighborhoods — the Old Northside, Irvington, Mapleton-Fall Creek, Woodruff Place, and Central State — spanning ZIP codes 46201, 46202, 46205, 46219, and 46222. Unit mixes range from studios to four-bedroom townhomes.

Is management in-house or third party?

In-house. Leasing, resident services, maintenance, turns, and grounds are handled by Fordham & Ralston's own Indianapolis-based team, with three offices across the city and an after-hours on-call maintenance line.

What documentation can you provide for underwriting?

Rent rolls, trailing operating statements, capital improvement summaries, insurance certificates, and entity documentation are available to qualified parties under NDA. Email info@fordhamralston.com to begin.

Was this company previously known by another name?

Yes — Fordham & Ralston formerly operated as Indy Collective Property Group. The portfolio, team, offices, and phone number are unchanged; the brand was renewed in 2026.