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Merchants Capital Provides $56 Million Financing For Birge & Held's Cumberland Crossing Acquisition In Fishers

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FINANCED
$56,000,000

Indiana

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MultiFamily
Financed 10/30/2025
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Property Image
FINANCED

Merchants Capital Provides $56 Million Financing For Birge & Held's Cumberland Crossing Acquisition In Fishers

10225 Stage Coach Trail

See Similar Deals
MultiFamily
Financed 10/30/2025
the dealplayerscompscontact
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Summary

INDIANA
Asset Type:MultiFamily
Transaction Type:Loan

Cumberland Crossing is a 232-unit affordable housing community located at 10225 Stage Coach Trail in Fishers, Indiana. Merchants Capital has arranged a financing deal amounting to $56 million for the acquisition and rehabilitation of this multifamily asset. The financing will enhance sustainability through solar upgrades and extend the affordability of the property for an additional 30 years.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $56,000,000
  • Lender: Merchants Capital
  • Landlord: Birge & Held
  • Units: 232
  • Market: Fishers, IN

The deal involved Merchants Capital facilitating financing for Birge & Held, who is acquiring and modernizing Cumberland Crossing as part of their commitment to affordable housing. This initiative combines HUD loans with tax credit equity to support the rehabilitation efforts.

Players

Merchants Capital
Merchants Capital
LENDER

Details

FINANCED
IMAGE: 10/30/2025 ADDRESS: 10225 Stage Coach Trail MARKET: Fishers, IN ASSET TYPE: Multifamily ~ UNITS: 232 LENDER: Merchants Capital LANDLORD: Birge & Held LOAN AMOUNT: $56,000,000 NOTE: Merchants Capital arranged over $56 million in financing for Birge & Held’s acquisition and rehabilitation of Cumberland Crossing, a 232-unit affordable housing community in Fishers, Indiana. The deal extends affordability for 30 more years, combining HUD loans, tax credit equity, and solar upgrades to modernize the property and enhance sustainability.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$56,000,000.00

Monthly NOI$373,333.33
Monthly Debt Service$353,958.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00