Echo Real Estate Capital, Inc. has acquired Three Penn Mark, a 33,000-square-foot medical office building in the Penn Mark Plaza office park in Carmel, Indiana.
This latest acquisition, at 11455 N. Meridian St., is occupied by Ascension-St. Vincent, Turkle & Associates Center for Plastic Surgery and Abram’s Eyecare. Echo’s Indianapolis portfolio now includes five buildings and nearly 200,000 square feet of hospital anchored clinical medical space.
Three Penn Mark is currently 100% occupied, giving Echo an opportunity to further increase value through proactive property management and several capital improvement initiatives. Financing for the project was provided by FORUM Credit Union and T2 Capital Management. The seller was represented by Colliers International and the buyer was represented by Jackson Investment Group.
