Zidan Management Group Acquires Multifamily Property In Indianapolis
307 North Pennsylvania Street, Indianapolis, Indiana 46204, United States
$91,000,000
$236/SF
Building Size
384,520 SF
Asset Type
MultiFamily
Closing
Mar 28, 2022
AI
Zidan Management Group Inc. has acquired a multifamily property located at 307 N. Pennsylvania St in Indianapolis. The property consists of 334 units and was sold for an undisclosed amount.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Address: 307 N. Pennsylvania St
- Market: Indianapolis
- Units: 334
The deal was brokered by Jason Brown and Austin Katai from Berkadia. The exact terms and conditions of the acquisition loan were not disclosed, but it is known that the loan was for a five-year period. No further information regarding the loan amount or loan type was provided.
Players
Indianapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93