Barratt Asset Management has acquired Carmel Woods Apartments: a 314-unit, class-B community built in 1986 and located in Carmel, IN. The apartment community is positioned strategically within Carmel, less than a mile from the Downtown Arts and Design District and City Center Area. The property is adjacent to the award- winning Carmel High School (5,000 + Students) and Clay Terrace (outdoor lifestyle center). The seller, McKinley, was represented by Berkadia Real Estate Advisors.
“Value-add opportunities in the most prestigious submarket in Indianapolis have been essentially non-existent over the last five years. When an off-market opportunity like Carmel Woods comes along, the team does everything it can to acquire such an asset,” explained Ivan Barratt, BAM Founder and CEO.
“The team will spend the next 24-36 months renovating the entire property, and repositioning the community as the best value in Carmel,” said Adam Ehret, BAM President and COO. “We are also excited to be partnering with Core Real Estate Capital, a private equity real estate firm out of Columbus, OH on this project.”
Barratt Asset Management is headquartered in Indianapolis, IN, and was formed in July 2010. BAM specializes in the acquisition and management of multifamily apartment communities. BAM provides an array of real estate services, utilizing the knowledge and strengths of its employees and local market expertise to achieve maximum benefit for community residents as well as investors. From humble beginnings, BAM has grown from the management of a few small properties to over $250 million in total assets under management and ownership.
For more information about BAM visit: www.barrattassetmanagement.com.
About Core Real Estate Capital
Founded in 2001, Core Real Estate Capital is a Columbus, Ohio based private equity real estate firm. Core Real Estate Capital has over $1 billion in real estate under management in the multifamily, senior living, medical office, and hotel sectors.
For more information, please visit www.corerecap.com.