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Berkadia Secures $42.9M Loan For Acquisition Of Legacy Park Multifamily Property

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FINANCED
$42,900,000
Noam Franklin
Cody Kirkpatrick
Chinmay Bhatt
+ 1

Indiana

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MultiFamily
Financed 10/26/2023
the dealplayerscompscontact
Property Image
FINANCED

Berkadia Secures $42.9M Loan For Acquisition Of Legacy Park Multifamily Property

6750 Legacy Park Drive

See Similar Deals
MultiFamily
Financed 10/26/2023
Noam Franklin
Cody Kirkpatrick
Chinmay Bhatt
+ 1
the dealplayerscompscontact
Contact now

Summary

INDIANA
Asset Type:MultiFamily
Transaction Type:Loan

Berkadia has secured a $29.9 million Freddie Mac loan and $13 million in institutional equity to facilitate the acquisition of Legacy Park, a 250-unit apartment community in Brownsburg, Indiana. The property, located at 6750 Legacy Park Drive, offers a multifamily asset with a total of 250 units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $42,900,000
  • Units: 250
  • Address: 6750 Legacy Park Drive
  • Market: Brownsburg, IN

Chinmay Bhatt, Cody Kirkpatrick, Noam Franklin, and Richard Levine, all representing Berkadia, played key roles in securing the loan and equity for the acquisition of Legacy Park in Brownsburg, Indiana.

Players

Noam Franklin
Berkadia
Noam Franklin
20 deals$780.2M volume(917) 544-3141
BROKER
Cody Kirkpatrick
Berkadia
Cody Kirkpatrick
19 deals$748.2M volume
BROKER
Chinmay Bhatt
Berkadia
Chinmay Bhatt
20 deals$780.2M volume
BROKER
Richard Levine
Berkadia
Richard Levine
3 deals$42.9M volume(404) 654-2590
BROKER

Details

FINANCED
IMAGE: Cody Kirkpatrick, Noam Franklin, Chinmay Bhatt & Richard Levine DATE: 10/26/2023 ADDRESS: 6750 Legacy Park Drive MARKET: Brownsburg, IN ASSET TYPE: Multifamily ~ UNITS: 250 BROKERS: Chinmay Bhatt, Cody Kirkpatrick, Noam Franklin & Richard Levine - Berkadia LOAN AMOUNT: $42,900,000 LOAN TYPE: Acquisition NOTE: Berkadia has secured $13 million in institutional equity and arranged a $29.9 million Freddie Mac loan to facilitate the acquisition of Legacy Park, a 250-unit apartment community in Brownsburg, a suburb of Indianapolis.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$42,900,000.00

Monthly NOI$286,000.00
Monthly Debt Service$271,157.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00