Fannie Mae Provides $54M Acquisition Loan For Indianapolis Multifamily Property
9515 Shoreland Lane, Indianapolis, Indiana 46229, United States
$54,027,000
$88/SF
Building Size
608,500 SF
Asset Type
MultiFamily
Closing
Aug 10, 2022
AI
Located at 9515 Shoreland Lane, 2910 White Knight Blvd, and 4800 North Post Road, this multifamily property in Indianapolis encompasses a total of 628 units and spans across 608,500 square feet. The acquisition loan for this property has been secured from Fannie Mae.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $54,027,000
- Loan Type: Acquisition Loan
- Loan Terms: Interest-only payments for the first five years
The loan for this acquisition was facilitated by Michael Muller of Eastern Union.
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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93