Closing arguments are expected to begin Wednesday afternoon in the federal fraud trial of Indianapolis real estate broker John M. Bales and partner William E. Spencer after the defense raced through seven witnesses Tuesday and early Wednesday.
The legal team representing real estate broker John M. Bales and partner William E. Spencer haven't called their first witness and already they're putting up a spirited fight as federal prosecutors seek to prove 13 charges including bank, mail and wire fraud.
Attorney and developer Paul J. Page is no longer a co-defendant in the fraud trial of real estate broker John M. Bales and partner Bill Spencer. But you wouldn’t know it from the action Tuesday in U.S. District Court. Only now, rather than federal prosecutors, it’s defense attorneys for Bales and Spencer who are targeting Page.
Facing a looming deadline to find suitable office space for the state Department of Child Services, Indianapolis real estate broker John M. Bales and partner Bill Spencer in 2008 dipped into their own pockets to help close a difficult lease deal, their defense attorneys contend.
The Indiana House has approved a bill that would shorten the time that school districts must hold onto vacant buildings in case a charter school operator wanted to move into the building.
The city's largest real estate brokerage expects the industrial and housing markets to boom in 2013, but offers a more cautious view on the office and retail sectors, predicting that uncertainty caused by political gridlock could hamper an already sluggish recovery.
Two Illinois companies have acquired a six-building, 446,000-square-foot Indianapolis office portfolio from locally based Duke Realty Corp. Industry sources say the buildings sold for more than $20 million.
A historic brick building long used as a restaurant and hotel suites next door to Circle Centre mall is going up for sale for the first time in almost a decade, with an expected asking price of $4 million.
In December, the Indianapolis-based real estate investment trust bought two shopping centers in Greenville, S.C., using proceeds from its recent $60 million stock sale.
The former post office at Washington Street and Ritter Avenue once anchored a commercial hub in the historic neighborhood. About $400,000 in repairs are expected before the groups attempt to flip the property for a new use.
The Indianapolis Enterprise Center on the near-east side has been acquired by a local investor group led by the former owner of the troubled business incubator.
The 4.5-acre site of the St. John United Church of Christ is back on the market following the settlement earlier this year of a lawsuit between the church and the city.
The Bloomington City Council has approved giving up some city property for construction of a $27 million Hyatt Hotel near the downtown courthouse square.
Zionsville Community Schools and the town of Zionsville are teaming up to purchase and develop a prime piece of real estate owned by Dow Chemical Co.
The university chose Keystone over Kite Realty Group and Lauth Property Group to build housing, retail and parking worth up to $45 million.
Teagen Development Inc. has a purchase agreement for the 6,600-square-foot building at 1101 N. College Ave., rescuing it from an attempt—since withdrawn—to demolish the structure.
Luxury outlet malls—where upscale retailers such as Coach Inc. and Michael Kors Holdings Ltd. hawk discount goods—are now the main source of expansion for the Indianapolis-based real estate investment trust, the country’s largest.
Class B admirers are benefiting from low prices and lending rates, and turning the buildings into apartment and company headquarters.
A fast-growing Indianapolis real estate firm is poised to acquire one of the city’s most iconic and well-located historic buildings.
The Metropolitan Development Commission on Wednesday approved a resolution allowing the Capital Improvement Board of Marion County to sell the Ober Building in downtown Indianapolis to the Steak n Shake restaurant chain.
