INDIANAPOLIS—Due to its central location and dense network of interstates, Indianapolis has become one of the nation's top logistics and distribution hubs. The region's rising economy has also lifted up its multifamily sector, and owners in the region are also making moves to improve their financial position.
J.C. Hart Co., Inc., for example, just secured $38.5 million in financing for two of its Indianapolis-area apartment communities, The Hamilton and BayShore Apartments. Working on behalf of the borrower, HFF placed the loans in two separate transactions. A $25.2 million, 15-year, fixed-rate loan was placed with 40/86 Mortgage Capital, Inc. for The Hamilton. And Morgan Stanley Bank, N.A. closed a $13.3 million, fixed-rate loan for BayShore Apartments. Both loans refinanced existing debt on the properties.
The Hamilton is a 233-unit, class A asset located at 116th St. and Hoosier Rd. in suburban Fishers. Completed in 2014, the property features one-, two- and three-bedroom luxury units and has many 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.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
