HFF Facilitates Financing of Multifamily Assets in Indianapolis
- Sep 09, 2015
By Adriana Pop, Associate Editor
Senior Managing Director David B. Keller led the firm’s debt placement team representing the borrower, which is formed of entities controlled by The J.C. Hart Company Inc.
HFF placed the loans in two separate transactions. For The Hamilton, the firm facilitated a $25.2 million, 15-year, fixed-rate loan with 40/86 Mortgage Capital, Inc. Meanwhile, for BayShore Apartments, HFF closed a $13.3 million, fixed-rate loan with Morgan Stanley Bank, N.A.
The borrower will use both loans to refinance existing debt on the assets.
The Hamilton is a 233-unit, Class A multi-housing community located at 116th Street and Hoosier Road, within the fast-growing Indianapolis suburb of Fishers. Residents here have easy access to the Interstate 69/116th Street interchange, as well as to the plentiful attractions available in the area. The property offers a mix of one-, two- and three-bedroom luxury units, along with an array of amenities, including a swimming pool with sun deck, grilling area with fire pit, state-of-the-art fitness center, indoor gymnasium, business center, café lounge, game room and garage parking.
BayShore Apartments is situated on Main Street, just east of SR 135 in Greenwood, Indiana. Built in 1998 by The J.C. Hart Company Inc., the community features 236 one-, two- and three- bedroom units, with an average size of 893 square feet. Amenities include a swimming pool, hot tub, tennis court, indoor gymnasium, sand volley ball court, fitness center, clubhouse and business center.