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Chicago & Midwest  + Midwest  + Apartments  | 

Sterling Group Snags Apartments in Affluent Indy Suburb

CBRE arranged the sale of VER at Proscenium, a 196-unit, trophy mixed-use asset in the center of the affluent Indianapolis suburb of Carmel, IN to the Sterling Group for an undisclosed amount. The firm’s Steve LaMotte, Jr., Dane Wilson and Ross Wettersten represented the undisclosed seller.

Completed in 2021, VER at Proscenium is located at 1225 Veterans Way and features studio, one- and two-bedroom floorplans. Amenities include a resort-style swimming pool, state-of-the-art fitness center, pet spa, virtual sports simulator, co-working space and the metro area’s only fob-activated resident beer tap. The community has two restaurants onsite: Wahlburgers and 101 Beer Kitchen, with a third on the way.

“Despite significant market turbulence and a complex physical asset, CBRE procured 20 bids to purchase VER at Proscenium, a fitting demonstration of demand from sophisticated investment capital for the most notable multifamily transaction of the year in the Indianapolis metro,” said LaMotte. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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