Finance O Indiana

CBRE provides $1.5 million loan for multifamily property in Indianapolis

CBRE provides $1.5 million loan for Indy multifamily,ph01

CBRE has structured a $1.57 million loan to refinance the Monon Station Apartments in Indianapolis. A Freddie Mac Small Business Loan was obtained by Dan Gable and Jason Brown of CBRE Capital Markets’ Debt & Structured Finance team on behalf of their client, Barratt Asset Management.

The 10-year $1.57 million loan has a fixed 4.65% rate and is amortized over 30 years, with three years interest only. Monon Station Apartments is a 28-unit property which underwent a large renovation, completed in 2016.

Barratt Asset Management is headquartered in Indianapolis, and was formed in July 2010.