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CARMEL, IND. — CBRE Group Inc. has brokered the sale of a 400-unit multifamily community in Carmel, a northern suburb of Indianapolis. The Village on Spring Mill, located at 14637 Handel Drive, is a Class A complex that was purchased by Monarch Investment for an undisclosed price. Monarch Investment was acting on behalf of a private investor based on the West Coast. The buyer plans to upgrade unit interiors with new appliances, lighting, hardware and countertops. Steve LaMotte Jr. and Dane Wilson of CBRE’s Central Midwest Multifamily team represented the seller, Meridian Realty Investments. Monarch Investment was self-represented.