Mag Mile Capital Closes $9.75M Loan For Holiday Inn At Indianapolis Airport

The Holiday Inn at Indianapolis Airport, located at 8555 Stansted Drive, is an asset type classified as a hotel in the Indianapolis, IN market. This property secured a cash-out CMBS loan amounting to $9,750,000, structured at a 60% loan-to-value ratio. The financial arrangement consists of a 5-year loan term coupled with a 30-year amortization schedule.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $9,750,000
• Loan Terms: 5-year loan term, 30-year amortization
• Loan to Value Ratio: 60%
• Landlord: Rushi Shah & Prabhat Jayara
• Agency: Mag Mile Capital

The financing was facilitated by Mag Mile Capital, who played a significant role in securing the loan backed by a non-bank lender based in New York. This financial move is aimed at enhancing cash flow for ownership and is intended to fund the establishment of a new Bar Louie restaurant in the hotel lobby.