Freddie Mac Provides $26.9M Refinancing Loan For Indianapolis Multifamily Property
8740 Arborway Court, Indianapolis, IN 46268, USA
$26,872,000
$1,661/SF
Building Size
16,176 SF
Asset Type
MultiFamily
Closing
Nov 30, 2021
AI
NTS Development Company has recently secured a refinancing loan for their multifamily property located at 8740 Arborway Ct in Indianapolis, Indiana. The property consists of 232 units, making it a sizable investment in the local real estate market.
Summary of transaction details
- Property Type: Multifamily
- Loan Amount: $26,872,000
- Loan Type: Refinancing
- Loan Terms: Seven-year, fixed-rate loan
- Lender: Freddie Mac
- Landlord: NTS Development Company
- Broker: Matthew Schoenfeldt - JLL
The financing was provided by Freddie Mac, a prominent lender in the industry. Matthew Schoenfeldt of JLL represented NTS Development Company in this transaction, acting as their broker. The seven-year, fixed-rate loan will allow NTS Development Company to optimize their financial position and continue their operations in the Indianapolis market.
Players
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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93