Urban Growth Capital Announces New Indianapolis - Chicago Commercial Real Estate Investment Partnership
INDIANAPOLIS, November 29, 2022 (Newswire.com) - A partnership between Indianapolis-based Urban Growth Capital, BrightPoint Real Estate and Chicago-based North Companies recently acquired the Shore Terrace Medical Center, a 42,627-square-foot Class A Medical Office Building on Indianapolis' Northwest side.
"The Shore Terrace Medical Office acquisition opened an opportunity for Urban Growth to partner with some of the most accomplished names in the commercial real estate industry. Urban Growth Capital is an opportunistic commercial real estate investment firm that seeks undervalued assets that can benefit from repositioning and/or modification to enhance its value in the marketplace. North Companies is a Chicago-based firm focusing on acquisitions and asset management. The Shore Terrace opportunity is the first time these firms have worked together and we believe the partnership will provide the opportunity for our firms to pursue other real estate investment opportunities in the future," said Nick Carmen, partner of Urban Growth Capital, "As an added benefit, the Shore Terrace acquisition provided an opportunity for two of Indianapolis-based commercial real estate brokerage firms to partner on the marketing and leasing of the project. CARMEN Commercial Real Estate Services, a 30-year-old commercial real estate brokerage firm specializing in office and industrial properties, is combing its skills and experience with one of Indiana's newest and most innovative commercial real estate brokerage firms, BrightPoint Real Estate, to provide the new ownership of Shore Terrace marketing and leasing services." Shore Terrace underwent an extensive update in 2016 and offers the best-in-class of medical office amenities servicing family practice, multi-specialty care, outpatient surgery, imaging, post-acute care, etc.
"We are looking forward to leasing the Shore Terrace Medical Center with CARMEN Commercial and believe this will open the door to our firms working together in the future on marketing and leasing repositioned commercial real estate assets located in Central Indiana. The co-leasing partnership takes advantage of our firms' strengths: BrightPoint's innovative ideas and CARMEN's experience in the Indiana marketplace," said Cooper Laikin, Co-founder of BrightPoint Real Estate. "We believe Shore Terrace Medical Center is well located, giving healthcare providers convenient access to a broad segment of the patient community. Its northwest side location, surrounded by shopping and amenities, makes Shore Terrace a logical location for healthcare providers to serve patients," said Evan Kroot, Co-Founder of BrightPoint Real Estate.
Shore Terrace is easily accessible directly off Interstate 465 and 74. The property lends quick access to the rest of Indianapolis and to a number of hospitals and credit health systems located on the north and west sides of the Indianapolis area. Within a 10-mile radius of the property are eight hospitals with three distinct health systems. For leasing information, visit www.shoreterracemedicalcenter.com.
About CARMEN Commercial Real Estate
Founded in 1993, CARMEN focuses on providing clients with tenant representation, corporate real estate services and providing solutions for business owners and managers whose focus can remain on core business pursuits. https://carmenrealestate.com
About BrightPoint Real Estate
BrightPoint Real Estate has redefined the business of real estate; modernizing and advancing the industry by fostering a culture of partnership in which all clients and listings are represented in a collaborative environment by our expert agents. They represent clientele who buy, build, occupy and invest in a variety of assets, including office, industrial, retail, multi-family and land real estate. BrightPoint Real Estate's unique mix of experience is transforming the industry through its presence in both traditional and innovative multi-media marketing channels. https://brightpointrealestate.com
About North Companies
North Companies is a Chicago-based commercial real estate investment firm that sources and acquires best-in-market assets for the firm and its partners. North Companies invests in and owns stabilized and value-add properties across a wide spectrum of asset types, including office & medical office, retail, industrial and multifamily. North Companies also provides its partners with first-class management, facilities and building services.
Source: Urban Growth Capital
