Mission Capital Advisors arranged $31.4 million in construction financing for a four-story, 215-unit multifamily complex in Indianapolis.
MORTGAGE OBSERVER WEEKLY
PNC Provides $24M Construction Loan for Indianapolis Project
1lilsion Capital Advisors arranged S3L4 million in construction financing for a four-story, 215-unit multifamily com plex in Indianapolis, Mortgage Observer
Wll.'kly has first learned.
project, which boasts a pool
institutional joint venture, put the total loan–to-cost of the planned project at 97.5 percent, according to a representative for Mission.
Brad Lyo118, Arl Hirt and Steven Buchwald represented the sponsor in 31' ranging thefinancing.
exclusively toMOW reads.
''There is ample capital available in the
current market for quality projects, and Mission has a track record of success in arranging financing for projects in a wide range of markets throughout the coun try," said Mr. Hirt "The interest we re
and parking. is being devel
Located at 600
ceived in arranging this transaction is
opedbylocal firm TWG Development.
A S24.3 million construction loan from PNC Bank N.A.,combined with a S7J mil lion infusion of equityfrom an unidentified
the project is "located within \<tlking dis
tance of many of Indiana's largest employ
ers and is proximate to major sporting venues,•astatementfrom Mission provided
indicative of the continuing strength of
the capital markets, and the opportunities
available in strong Midwest markets such
as Indianapolis." – Guelda Voien