Hodges Ward Elliott brokers sale of Renaissance Indianapolis North
266 room, institutional-quality hotel located in fast growing market
CARMEL, Indiana — Hodges Ward Elliott, the premier boutique hotel real estate capital markets advisor and a part of Franklin Street’s national platform, announced the successful sale of the Renaissance Indianapolis North, a 266 room, full-service hotel in Carmel, Indiana currently ranked as the number one hotel in Carmel by TripAdvisor. Carmel is one of the Midwest’s fastest growing and most affluent suburban markets. HWE represented an institutional seller in the transaction.
“The Renaissance Indianapolis North represented one of the most compelling full-service hotel investment opportunities brought to market in the Midwest in recent years,” Pete Dannemiller, executive managing director, Hodges Ward Elliott, said. “A combination of strong in-place cash flow, institutional-quality improvements, top-ranked guest satisfaction, and location within one of the country’s fastest-growing suburban markets generated significant investor interest.”
Opened in 2008, and located along the North Meridian Corridor, the hotel features 266 guestrooms, 14,800 square feet of meeting and event space, the Grille 39 restaurant, Starbucks, club lounge, indoor pool, and a fitness center. The property has consistently ranked among the region’s top performers, benefiting from a diversified mix of group, corporate, and leisure demand. Ongoing capital reinvestment and institutional ownership have ensured the asset has been exceptionally maintained and well positioned for continued success. It occupies a highly visible position with convenient access to downtown Indianapolis, Carmel City Center, and the region’s leading corporate, healthcare, leisure, and cultural demand generators.
“The offering attracted multiple competitive offers from qualified investors,” Nate Ries, senior director, Hodges Ward Elliott, said. “We were pleased to execute a competitive process and achieve a successful outcome for our client.”
Pete Dannemiller, Nate Ries, and Caiden Trivedi comprised the HWE team representing its institutional client.
The Renaissance Indianapolis North is located within Carmel, one of the nation’s premier suburban business and residential markets. Most recently, U.S. News & World Report named Carmel the No. 1 Best Place to Live in America in its 2026–2027 rankings, placing the city first among 250 communities evaluated nationwide. Over the past several years, the city has attracted more than $2 billion of public and private investment, fueling transformative mixed-use developments, corporate expansion, and significant residential growth. Supported by a highly educated workforce, nationally recognized schools, and a diverse economic base, Carmel has emerged as one of the Midwest’s most desirable destinations for residents, employers, and investors alike.
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About Hodges Ward Elliott
HWE is the premier hospitality focused real estate capital markets advisor. With 50 years of excellence in real estate, HWE is committed to delivering exceptional results for its clients. The HWE team comprises the most forward-thinking, experienced professionals in the commercial hospitality real estate industry today and has earned its reputation through intelligence, a collaborative spirit, and a culture dedicated to putting its clients’ interests first. Learn more about HWE.
About Franklin Street
Franklin Street is a fully integrated, national commercial real estate services firm headquartered in Tampa, Florida. We combine thoughtful planning with decisive action to deliver winning results to clients nationwide. Franklin Street’s seven lines of business include Capital Advisory, Insurance, Investment Sales, Property Management, Project Management and Tenant and Landlord Representation. Founded in 2006, Franklin Street has a network of industry-leading brokers and capital partners across the country to ensure exceptional client service. Learn more about Franklin Street.