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3140 Coppergate Cir. - Lafayette, IN 47909
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PROPERTY OVERVIEW
Copper Gate is a 128-unit affordable housing community located in Lafayette, IN. The property is conveniently situated minutes from Purdue University and major retailers, including Payless and Walmart Supercenter. Numerous restaurants, outdoor recreation, schools, healthcare facilities, and major transportation arteries are nearby as well.
The property was built in 1998 and rehabbed and placed in service in 2014 under the Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 50% & 60% of the Area Median Income (AMI) limits, which are provided by the Indiana Housing and Community Development Authority.
Copper Gate features one, two, and three bedroom units featuring open and spacious floor plans, updated kitchen cabinetry and countertops, fully-equipped kitchens, a patio/balcony, central air-conditioning, and window coverings. Community amenities include a community room, swimming pool, outdoor play area, fitness center, and headstart center.
Purdue University is located in West Lafayette, with a total enrollment of around 50,000 students
The rent and income limits are projected to increase by nearly 7% in 2025, resulting in terrific rental upside at the property
High performing LIHTC property with a vacancy rate of 3.5% over the trailing-12 months
The asset is operating at the maximum allowable rents, which are well below the rents observed at comparable market rate properties, resulting in very stable operations
INVESTMENT HIGHLIGHTS
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
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INVESTMENT ADVISORS
Jeff irish
Senior Managing Director
Affordable Housing
ID License #DB36794
208.286.5013
jeff.irish@berkadia.com
Senior Director
Affordable Housing
ID License #SP42885
208.631.4981
jordan.skyles@berkadia.com
jordan skyles
211 W. Main St.
Suite 302
Carmel, IN 46032
indianapolis OFFICE
MORTGAGE BANKING
Associate Director
817.821.9559
jack.leonhard@berkadia.com
JACK LEONHARD
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
128
UNITS
1998/2014
Built/Reno
126,546
sF
Director of Operations
Affordable Housing
CA License #02251798
208.296.2073
jordan.baird@berkadia.com
jordan baird
Managing Director
Multifamily
IN CRE #15001294
317.370.5515
chris.bruzas@berkadia.com
chris bruzas
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD