In late 2020, Oldtown Capital Partners acquired MarMain Apartments, a 132-unit workforce housing asset located in the heart of South Bend, Indiana. This off-market transaction was directly negotiated with the seller, allowing Oldtown to secure a uniquely positioned property adjacent to Memorial Hospital—the metro’s largest employer—and within walking distance of Notre Dame, St. Mary’s, Holy Cross, and the University of Indiana-South Bend.
Originally constructed in 1922, this historic building features spacious units, high ceilings, and an abundance of natural light. Due to passive management, rental rates have remained some of the lowest in the market. To unlock the building’s full potential, Oldtown is undertaking a multimillion-dollar renovation program aimed at modernizing the units, enhancing building functionality, and introducing best-in-class management services, all while maintaining affordability for families earning 60-120% of the area median income (AMI).
