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6750 Legacy Park Drive

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

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

6750 Legacy Park Drive

$42,950,000

Units

250

Asset Type

MultiFamily

Closing

Oct 26, 2023

AI

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 MacLender
Wilkinson Corp.
Wilkinson Corp.Landlord

Brownsburg 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

0.37%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93