Finance O Indiana

NorthMarq closes $4.3 million loan for Indianapolis apartments

NorthMarq closes $4.3 million loan for Indianapolis apartments,ph01

David Garfinkel, senior vice president/managing director of NorthMarq’s St. Louis-based regional office, negotiated the $4.3 million supplemental loan of Wildwood Apartments, a 324-unit multifamily property at 3491 Timbersedge Drive in Indianapolis.

The transaction was structured with a five-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its in-house Fannie Mae platform.

Apartment amenities include: Dishwasher, disposal, high-speed internet access, washer/dryer hookup, air conditioning, smoke free, cable ready, oven, refrigerator, fireplace, wheelchair accessible rooms, carpet, vaulted ceilings, great views, walk-in closets and window coverings. Community amenities include: carports, close proximity to I-65 (minutes from downtown Indianapolis), established landscaping, sundeck, pond, balcony, pet-friendly policy, 24-hour availability, public transportation, basketball court, tennis court, playground, pool and fitness center.