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Wilkinson Corp. Acquires Legacy Park Multifamily Property In Brownsburg, Indiana With $42.95 Million Loan From Freddie Mac

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FINANCED
$42,950,000

Indiana

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MultiFamily
Financed 10/26/2023
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Property Image
FINANCED

Wilkinson Corp. Acquires Legacy Park Multifamily Property In Brownsburg, Indiana With $42.95 Million Loan From Freddie Mac

6750 Legacy Park Drive

See Similar Deals
MultiFamily
Financed 10/26/2023
the dealplayerscompscontact
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Summary

INDIANA
Asset Type:MultiFamily
Transaction Type:Loan

The Legacy Park apartment property, located at 6750 Legacy Park Drive in Brownsburg, Indiana, has been acquired by Wilkinson Corp. The multifamily property consists of 250 units and was purchased from Birge & Held. The acquisition involved a total financing of $42.95 million, which included a $29.95 million loan from Freddie Mac and $13 million in equity from an institutional investor.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $42,950,000
  • Units: 250
  • Market: Brownsburg, Indiana
  • Lender: Freddie Mac
  • Landlord: Wilkinson Corp. - Russell L. Wilkinson
  • Broker: Berkadia

Berkadia played a crucial role in facilitating Wilkinson Corp.'s purchase of the Legacy Park apartment property. Acting as the broker, Berkadia connected the buyer and the seller, ensuring a smooth transaction. Russell L. Wilkinson, representing Wilkinson Corp., spearheaded the deal, showcasing their expertise in the Brownsburg property market.

Players

Freddie Mac
Freddie Mac
LENDER
Wilkinson Corp.
Wilkinson Corp.
LANDLORD

Details

FINANCED
IMAGE: Russell L. Wilkinson DATE: 10/26/2023 ADDRESS: 6750 Legacy Park Drive MARKET: Brownsburg, Indiana ASSET TYPE: Multifamily ~ UNITS: 250 LENDER: Freddie Mac (@FreddieMacCorp) LANDLORD: Wilkinson Corp. (@WilkinsonCorp) - Russell L. Wilkinson BROKER: Berkadia (@Berkadia) LOAN AMOUNT: $42,950,000 LOAN TYPE: Acquisition Loan NOTE: Berkadia facilitated Wilkinson Corp.'s purchase of the 250-unit Legacy Park apartment property in Brownsburg, Indiana, from Birge & Held. The deal involved $42.95 million in financing, comprising a $29.95 million loan from Freddie Mac and $13 million in equity from an institutional investor.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$42,950,000.00

Monthly NOI$286,333.33
Monthly Debt Service$271,473.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00