Mag Mile Capital Arranges $5.3M Acquisition Loan for 83-Room Hotel in Indianapolis
INDIANAPOLIS — Mag Mile Capital has arranged a $5.4 million CMBS loan for the acquisition of an 83-room Courtyard by Marriott hotel in southeast Indianapolis. The property is located at 4650 Southport Crossing Drive near I-65. Rushi Shah and Prabhat Jayara of Mag Mile Capital arranged the fixed-rate loan on behalf of the borrower, Trivedi Hospitality. Rialto Mortgage Finance provided the 10-year, nonrecourse loan, which features a 30-year amortization schedule.