Apartments and Residential Real Estate and Real Estate & Retail

Lakes of Carmel apartment complex sold

April 13, 2012

The 324-unit Lakes of Carmel apartment complex has been sold, a real estate broker involved in the sale announced Friday.

The seller, Lakes of Carmel Partners LLP, was represented by CBRE’s Indianapolis-Cincinnati multi-housing group.

Terms of the sale to Hunt Lakes of Carmel LLC were not disclosed.

Lakes of Carmel bought the complex in 2006 from Buckingham Arbors LLC, a division of Indianapolis-based Buckingham Cos., for $21.8 million, according to Hamilton County property records.

The complex is located at 382 Arbor Drive near Old Meridian Street and West Carmel Drive.

Monthly rents range from $689 for a one bedroom unit to $1,029 for a two-bedroom.
 
Lakes of Carmel was built in 1988 and remodeled in 2008.
 

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