ACRE Provides $21M for Renovation of Multifamily Property in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Asia Capital Real Estate (ACRE) has provided a $21 million loan for the renovation of Williamsburg North in Indianapolis. The 318-unit multifamily property, located at 4430 Brookline Court, was built in the 1960s. Amenities include a clubhouse, dog park, fitness center, pool and picnic areas. At the time of loan closing, the asset was 97 percent leased. The three-year loan features a loan-to-value ratio of 71 percent. Real estate investor David Shemano was the borrower.

You may also like