Carmel Woods

Full-Cycle Project Net IRR: 33% Equity Multiple: 2.54x

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Property Key Features


Carmel, IN

Number of Units


Date Acquired:


Carmel Woods is a 314-unit property located in Carmel, IN and built in 1986. With its location in an affluent suburb of Indianapolis, IN, Carmel Woods draws on the remarkable economic growth in the sub-market as well as the specific rent growth in the area.

A full-cycle project with an exit date of June 6, 2022, Gray Capital received a net IRR of 33% and an equity multiple of 2.54x during its 3.5-year investment period.

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Gray capital invests alongside our partners, joining sophisticated family offices and individual investors looking to take advantage of the unique benefits of multifamily real estate.