Fountain Square Theatre Building

Executive Summary

On October 27, 2017, FS Theatre LLC closed on the acquisition of the historical Fountain Square Theatre Building in Indianapolis, IN. Purchased from a long-time owner who owned and operated a majority of the existing businesses tenanted at the property, North Park Ventures (“Sponsorship”) entered into a sale-leaseback structure, leasing the property at market rate. The unused spaces not occupied by the prior owner were renovated using minimal landlord improvements and thereafter leased at market rates. Following a very successful refinancing of the property, which returned more than 100% of initial equity contributions, Sponsorship continues to make quarterly distributions.

Key Metrics

Projected IRR
Projected Equity Multiple
Actual Cash-on-Cash
*Calculated on the initial capital contribution
Projected Yield-on-Cost

Vertically Integrated Capabilities


Through our extensive network across the country, NPV specializes in sourcing and acquiring properties that offer superior risk-adjusted returns for our investors.


With our team's 80+ years of combined experience, we are able to successfully execute developments ranging from ground-up projects to historic renovations.

Community Engagement

As part of the development process, our team engages with elected officials and community leaders to gather input to create projects that benefit the local neighborhood.


NPV works with local municipalities to pursue zoning changes and administrative adjustments when appropriate to allow for the highest and best use of a development site.

Asset Management

By being fully vertically integrated, our team employs a hands-on approach to every aspect of a property's operations to ensure compliance and optimize performance.

Construction Management

With decades of construction experience, NPV offers a full suite of construction services from pre-construction feasibility studies to post-construction warranty management.


As a vertically integrated real estate firm, NPV's affiliate, Quadrel Construction, is a fully licensed General Contractor able to perform a wide variety of construction projects.

Property Management

Our property management firm, Quadrel Realty Group, is committed to offering superior service and transparent lines of communication to all of our residents and commercial tenants.


Our full-time in-house leasing team develops and executes marketing and leasing campaigns to achieve above-market rents in accordance with our leasing schedules.

High Value Design

Our team spends considerable time during the pre-construction phase to efficiently design unit layouts that maximize revenue and minimize operating expenses.