North Meridian Professional Center was a stabilized, three-building medical office portfolio totaling 72,383 net rentable square feet on 4.0 acres, located at 8801, 8803, and 8805 North Meridian Street in Indianapolis, Indiana. Acquired by Apta Investment Group and closed to new investors, the portfolio was 98.2% leased at acquisition and anchored by Indiana University Health, Midwest Institute for Clinical Research, and DaVita across a diversified mix of healthcare, dental, mental health, and specialty services tenants.
This is an Apta-originated investment, selected and structured directly by Apta Investment Group as part of our medical office building strategy. The asset reflected Apta’s conservative underwriting approach: acquire fundamentally sound properties in durable locations with high-credit tenants, and protect investor capital at every stage. At 98.2% leased, the portfolio delivered stable in-place cash flow from day one with minimal lease-up exposure.
The North Meridian Corridor has long served as Indianapolis’ medical and professional services spine, stretching along U.S. 31 from the city’s northern edge toward downtown and anchored by St. Vincent Hospital and IU Health. The corridor’s institutional healthcare presence, affluent surrounding neighborhoods, and historically high occupancy rates create the kind of durable economic ecosystem where fundamentals-driven investing produces consistent results across market cycles.
Apta evaluated this asset against the same criteria applied across every portfolio holding: in-place occupancy and income, tenant credit quality, location durability, replacement cost relative to acquisition price, and the long-term demand drivers for the asset type. North Meridian met each of those standards, and the investment reflects the same thesis that defines every Apta acquisition: physician-investors deserve to understand exactly what they own, why it makes sense, and what the thesis is without needing a finance degree to follow along.
