CREC Real Estate, LLC, a private equity real estate investment firm, has sold its stake in VER at Proscenium, a multifamily property in Carmel, Indiana.
Located at the intersection of Rangeline Road and West Carmel Drive, VER consists of 196 luxury multifamily residences spread over four buildings at the mixed-use Proscenium development in the center of Carmel, an Indianapolis submarket. Financial terms of the transaction were not disclosed.
Both VER and the Proscenium complex are situated in the heart of Carmel’s redevelopment and amenity zone, which is highly walkable and filled with a high concentration of corporate headquarters, as well as shopping, restaurants and entertainment. Additionally, the building is situated with direct access to the Monon Trail, a paved bicycle, running and walking path that extends from Chicago to Indianapolis. Within the VER property itself are commercial tenants including Wahlburgers, 101 Beer Kitchen and a high-end salon.
VER’s four adjoining multifamily buildings vary in style from urban modern to industrial and art deco, and include studio, one- and two-bedroom floorplans, completed with condo-grade contemporary finishes. Additionally, the property includes a wide selection of community amenities such as a state-of-the-art fitness center, an outdoor resort-style pool, a multi-sport virtual simulator, putting green, club area with a 24/7 beer tap and more.
