JLL Capital Markets closes sale of the 322-unit, luxury Carmel Center in Carmel, IN

 

Amanda Friant

CHICAGO, IL – JLL 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.The price was not disclosed.

 

JLL worked on behalf of the seller, NTS Development with an institutional partner, and The Connor Group acquired the asset.

Carmel Center, a 322-unit multi-housing
 community and city landmark located
in downtown Carmel, IN

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.

 

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.

Wick Kirby

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.

 

Situated at 675 Beacon St., 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.

Mark Stern

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.

 

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Matthew Lawton

 

About NTS Development

NTS is a full-service, diversified real estate company with apartment communities, commercial properties and residential communities located in 9 cities across the Midwest and Southeast United States. 

NTS has been providing high quality developments and real estate services for more than 55 years and currently manages over 10.9 million square feet of real estate including over 6,000 luxury apartment homes and over 4 million square feet of commercial property. 

About The Connor Group

The Connor Group is one of the country's top privately held real estate investors and operators with a 31-year track record of innovation, accelerated growth, and industry-leading investment returns. Based in Dayton, Ohio, 

Sam Grohe

The Connor Group has grown to $4 billion in assets with a portfolio encompassing more than 13,000 luxury apartments across 18 markets. 

Contact:

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com