Updated Oct 15, 2026
FINANCEDMultiFamily
The Annex Group Secures $30.7 Million Loan From Merchants Capital For Indianapolis Multifamily Development
1406 South Capitol Avenue
$30,700,000
Units
227
Asset Type
MultiFamily
Closing
Oct 14, 2026
About this deal
AI
The property involved in this transaction is a multifamily development located at 1406 South Capitol Avenue in Indianapolis, IN. The asset consists of 227 units, designed specifically for affordable housing. The financing for this project is secured through a permanent loan amounting to $30,700,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,700,000
- Address: 1406 South Capitol Avenue
- Market: Indianapolis, IN
- Units: 227
- Lender: Merchants Capital
- Landlord: The Annex Group
- Loan Type: Permanent
- Construction Start Date: 2026
- Estimated Completion Date: 2028
- Income Restrictions: Households earning 50% or 60% of the area median income
The transaction involves Merchants Capital as the lender providing financial support and The Annex Group serving as the landlord for the multifamily development. This collaboration is aimed at enhancing the availability of affordable housing in the Indianapolis area.
On the Map
$30,700,000
MultiFamily
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Players
Merchants CapitalLender
Indianapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93