CBRE Arranged Financing for Suburban Indy Mixed-Use Asset

The firm has arranged permanent financing for a retail and office development in Carmel.

By Adriana Pop

IndianapolisCBRE Group has secured permanent refinancing of the existing debt on 116th St. Centre, a 30,966-square-foot mixed-use retail/office development located in Carmel, Ind., a northern suburb of Indianapolis.

116th St. Centre in Carmel, Ind.
116th St. Centre in Carmel, Ind.

Dan Gable and Jason Brown from CBRE Capital Markets’ Debt & Structured Finance team in the Central Midwest worked on behalf of TitanStar Properties Inc. to fund a nearly $7 million loan with a 10-year, fixed-rate term on a 30-year amortization schedule through Starwood Mortgage Capital.

“The loan provided our client with a fixed-rate for 10 years and a year of interest only. We were able to secure non-recourse permanent financing with entity level guarantor for the Canadian publicly traded company,” Gable, vice president, CBRE Capital Markets, said in prepared remarks.

CBRE’s Debt & Structured Finance team in the Central Midwest specializes in capital structuring primarily in Indiana, Michigan, Ohio and Kentucky. They originate debt and equity for all major property types, including multifamily, office, industrial, retail, hospitality, condominium and technology properties.

Image courtesy of TitanStar Properties