Forza Acquires Three Residential Properties in Greencastle, Indiana

The Forza team is excited to share some great news about our latest expansion! We've officially acquired three residential properties in Greencastle, Indiana: Colonial Arms Apartments, Maple Terrace Apartments, and Roban Apartments. This acquisition aligns perfectly with our mission to improve lives through quality and affordable real estate development.

Our decision to invest in Greencastle was strongly influenced by Putnam County’s Growing Green and Gold Together initiative, launched in 2024 by DePauw University and the City of Greencastle. This initiative focuses on supporting local development and enhancing the quality of life for residents—values that deeply resonate with us at Forza.

“During our analysis of the Greencastle area and the condition of each complex prior to purchasing, we recognized an opportunity to greatly improve its overall condition and offer better housing options to current residents,” said Mike Kienholz, our Director of Construction.

“As we explored partnership opportunities, it became clear that the city of Greencastle shared our mission of enhancing the quality of community living. This alignment made the decision to partner with the city of Greencastle a natural choice.”

We officially closed on all three properties in mid-February 2025 and expect to complete renovations by early July. Our renovation plans include our standard upgrades—new roofing, flooring, and modern aesthetics—along with critical major repairs like mold remediation, crawl space encapsulation, and deep-patch asphalt repairs.

“At the time of purchase, the condition of each complex was poor,” said Kienholz. “Our focus is on addressing major issues that pose potential health and safety risks to residents. Once these critical repairs are completed, along with aesthetic and functional improvements, we are confident that both the residents and the surrounding communities will benefit.”

Once renovations are complete, residents will enjoy the following amenities:

Colonial Arms Apartments

Off-street parking

Pet-friendly

Maple Terrace Apartments

Private patio (in select units)

Central heating and air (in select units)

Off-street parking

Pet-friendly

Roban Apartments:

Central heating and air (in select units)

Off-street parking

Pet-friendly

With Putnam County’s population exceeding 30,000 and a thriving local business community, our investment here will contribute to the county’s strong economy. This also marks one of Forza’s most significant residential development projects to date! While this is currently our only planned acquisition for the year, we remain committed to exploring future real estate development opportunities.

Thank you to everyone on our team who made this acquisition possible. Your hard work and dedication continue to drive Forza’s mission forward, making a real impact on communities and the people who live in them.