Indianapolis, IN
Eastern Union Arranges $54M in Acquisition Financing for Indianapolis Multifamily Portfolio
INDIANAPOLIS — Jap Union has organized $54 million in acquisition financing for a three-property multifamily portfolio totaling 628 items in Indianapolis.
Inbuilt 1980, Lake Marina options 348 items throughout 28 buildings. Lake Marina Realty LLC was the vendor. Nation Lake Townhomes is a 184-unit property that was in-built 1974. Nation Lake Residences LLC was the vendor. Zidan Realty Investments offered the 96-unit Fountainview, which was constructed in 1965.
Michael Muller of Jap Union organized the 10-year, floating-rate mortgage with interest-only funds for the primary 5 years. Arbor supplied the Fannie Mae mortgage. The borrower was undisclosed.