JLL announced that it has closed the sale of Carmel Center, a 322-unit multi-housing community and city landmark located in downtown Carmel, Indiana within the Indianapolis MSA.
JLL worked on behalf of the seller, NTS Development with an institutional partner, and The Connor Group acquired the asset.
Built in 2002, the 18-building, three-story, colonial-style property features spacious one- and two-bedroom apartments and four-bed, tri-level townhomes with award-winning floor plans and details. Units include granite countertops, breakfast bars, original maple cabinets, stainless steel appliances, in-unit washers and dryers, walk-in closets, wood-style plan flooring and nine-foot ceilings. Community amenities include a stylish resident lounge, an entertaining kitchen with Starbucks Coffee, a business lounge and a pet spa. Both the clubhouse and leasing center have been recently renovated.
The property overlooks Carmel’s Veterans Memorial and Reflection Pool and is just steps from the Monon Recreation Trail, Carmel City Center and the Arts and Design District. The location provides residents access to more than 40 corporate HQs along US-31/Meridian St, A+ rated schools and leading healthcare and allows convenient connectivity via Meridian Pkwy (US-31), Keystone Pkwy., I-465 and I-65. The property is just 15 miles north of downtown Indianapolis.
The JLL Capital Markets Investment Sales Advisory team was led by Managing Director Wick Kirby, Director Amanda Friant, Managing Director Mark Stern, Executive Managing Director Matthew Lawton and Analyst Sam Grohe.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
