Marcus & Millichap Inc.
09/16/2024 | Press release | Distributed by Public on 09/16/2024 16:12
Marcus & Millichap Arranges Sale of 24-Unit Multifamily Property in Indiana
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Marcus & Millichap Arranges Sale of 24-Unit Multifamily Property in Indiana
September 16, 2024
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CARMEL, Ind., Sept. 16, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Carmel Village Green, a 24-unit apartment property located in Carmel, Indiana.
"Carmel Village Green received very strong interest from local and out-of-state buyers due to its best-in-class location at the heart of Indiana's most sought-after suburb of Carmel," said Aaron Kuroiwa, senior vice president investments. "The multifamily market in Indiana remains strong despite the high-interest rate environment. Investors are attracted to the state's favorable business climate and reliable economic growth."
Kuroiwa and Tony Rogers, investment specialists in Marcus & Millichap's Indianapolis office, had the exclusive listing to market the property on behalf of the seller, SMF Carmel Village I, LLC, and procured the buyer, TMA Carmel, LLC.
Located at 501 1st Ave. SE, Carmel Village Green features a unit mix of one-, two- and three-bedroom floor plans across 19,440 rentable square feet. Built in 1963, the property is situated on 1.2 acres within a quarter mile of local attractions such as Midtown Plaza, the Carmel Arts & Design District and the Monon Trail.
"Carmel Village Green received very strong interest from local and out-of-state buyers due to its best-in-class location at the heart of Indiana's most sought-after suburb of Carmel," said Aaron Kuroiwa, senior vice president investments. "The multifamily market in Indiana remains strong despite the high-interest rate environment. Investors are attracted to the state's favorable business climate and reliable economic growth."
Kuroiwa and Tony Rogers, investment specialists in Marcus & Millichap's Indianapolis office, had the exclusive listing to market the property on behalf of the seller, SMF Carmel Village I, LLC, and procured the buyer, TMA Carmel, LLC.
Located at 501 1st Ave. SE, Carmel Village Green features a unit mix of one-, two- and three-bedroom floor plans across 19,440 rentable square feet. Built in 1963, the property is situated on 1.2 acres within a quarter mile of local attractions such as Midtown Plaza, the Carmel Arts & Design District and the Monon Trail.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.