A revolutionary online real estate investing company recently added Allied Solutions’ new headquarters in Carmel’s growing Midtown redevelopment area as the newest asset in its portfolio. The purchase was announced last week.
“This property was too good of an opportunity to pass up,” said stREITwise CEO Eliot Bencuya. “The modern office employee is looking for three things: Amenities, amenities, amenities … and the Midtown Carmel redevelopment is quickly becoming the epitome of suburban, urban environments.”
stREITwise purchased the building for $32 million from Ambrose Property Group. This is the second investment in Carmel made by the company. In 2016, it purchased a building at 550 Congressional Boulevard.
“When we first visited Carmel we could instantly see the vision for the city,” Bencuva said. “We patiently waited for more properties in the city to hit the market and we feel this mixed-use development will provide our investors an outstanding return on their investment as well an opportunity for us to enhance their asset by leasing up the rest of the building with additional businesses for all the residents of Carmel to enjoy.”
The 142,000-square-foot Class A office and retail building was developed in 2017 as part of a public-private partnership. It is currently 87 percent leased with Allied Solutions and the FC Tucker Company as the anchor tenants.
“stREITwise’s purchase is a great example of how a city that invests in itself can attract additional private investments,” said Carmel Mayor Jim Brainard. “Site selectors and investors across the country are becoming more and more aware of Carmel as a great place for them to grow. Our investments in transportation, the arts, schools and other key quality of life amenities have created a place where the best employees want to live … and that’s the key to any company’s success.”
To learn more, visit streitwise.com/allied-solutions-building.
About stREITwise
stREITwise was formed to make real estate investing accessible and simple. stREITwise’s three founders possess nearly 40 years and over $5.4 billion of real estate investing experience. The company has a proven track record investing across multiple business cycles and property types. stREITwise’s offerings are regulated by the SEC under Regulation A+ of the JOBs Act, which obligates the company to follow strict reporting requirements including annual financial audits, giving investors much needed peace of mind. For more information on stREITwise, visit stREITwise.com.