Berkadia Arranges IN Community Sale

Managing Director Alex Blagojevich and Director Chris Bruzas of Berkadia completed the sale on behalf of both the buyer and the seller.
Carmel Woods
Carmel Woods

Berkadia has secured the sale of Carmel Woods, a 314-unit community in Carmel, Ind. The company’s Managing Director Alex Blagojevich and Director Chris Bruzas arranged the sale on behalf of the buyer, Barratt Asset Management and the seller, The McKinley Cos.

The garden-style property sits on approximately 33 acres at 1010 Clubhouse Court, 17 miles from downtown Indianapolis. Carmel Woods offers convenient access to various shopping, dining and entertainment venues including Clay Terrace with its diverse selection of restaurants and shopping venues, Whole Foods Market, Starbucks, Best Buy, Walmart Supercenter and Dunkin’ Donuts.

The community features a mix of one-, two- and three-bedroom units ranging from 803 to 1,248 square feet. The 16 two- and three-story buildings include common-area amenities such as:

  • fitness center
  • business center
  • clubhouse
  • volleyball court
  • swimming pool
  • two tennis courts
  • 616 parking spaces
  • picnic area
  • community garden
  • dog park

“Carmel Woods is a very rare property, due to the exceptional location, upside potential and significant scale at more than 300 units,” Bruzas, said in a prepared statement.

According to data provider Yardi Matrix, Carmel Woods was 97.8 percent occupied as of November. In another recent deal, Berkadia arranged a $11.6 million Freddie Mac loan for a 148-uit community in Lakeland, Fla.

Image courtesy of Yardi Matrix

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