Please see a statement from Ambrose Property Group Founder & CEO Aasif Bade regarding the company’s decision to focus its business on e-commerce and industrial real estate.
Ambrose Property Group is repositioning its business to focus on e-commerce and industrial development both in Indianapolis and nationally. We believe that a focused approach on one segment of real estate development is best for our investors, our clients, employees and the communities where we invest. As part of this decision, we plan to pursue the sale of our mixed-use and office projects, including Waterside. We have engaged international real estate firm JLL’s Indianapolis and Chicago offices to begin the process to sell Waterside.
Waterside, located within an Opportunity Zone, is poised for success and ready for long-term and large-scale vertical development. Ambrose expects to see significant local and national interest in this opportunity.
We thank members of The Valley and West Indy for their engagement over the past several years. We are proud of the work we’ve done together, and we look forward to seeing what will come from the largest redevelopment opportunity in our city’s history. We hope a new owner will be warmly welcomed by the community and be afforded consideration for necessary incentives from the city and state - as we have - that align with a project of this size and scope.
We are - and will remain - committed to the city and state through development projects, civic involvement and philanthropy. This includes our continued engagement with The Valley neighborhood and partners like the Indianapolis Zoo. We are proud of our work and we look forward to what the future holds for us as a community-minded and customer-centric real estate company.