REBusinessOnline

Ranger Power to Build $175M Solar Project in Shelbyville, Indiana

SHELBYVILLE, IND. — Ranger Power has unveiled plans to build a $175 million, 199-megawatt solar project in Shelbyville, about 30 miles southeast of Indianapolis. Ranger Power plans to begin building the project in 2022 with completion slated for 2023. Upon completion, the plant will generate enough power to serve 35,000 households. Electricity generated by the project will be distributed exclusively through Indianapolis-based Wabash Valley Power Association, a wholesale electric supplier to …

MCR Purchases Two Hotels in Indianapolis

INDIANAPOLIS — MCR has purchased two hotels in Indianapolis, including a 110-room Hampton Inn and a 78-room Residence Inn. Purchase prices and seller information were not disclosed. Both properties are less than 10 miles from the Indianapolis Motor Speedway. The hotels feature complimentary breakfasts, 24-hour fitness centers and

Millennial Holdings Purchases 200,000 SF Shopping Center in Indianapolis

INDIANAPOLIS — Millennial Holdings, a New Jersey-based real estate group, has purchased Felbram Plaza North, a nearly 200,000-square-foot shopping center on the south side of Indianapolis. The purchase price was not disclosed. The property is approximately 75 percent leased. Millennial plans to repair the parking lot, replace the roof and install new HVAC units. Anchor tenants include Shopper’s World, Dollar Tree, Dollar General and MCL. John Riser of Riser Retail Group represented …

Vermillion, HED Open 119-Unit Affordable Seniors Housing Community in Fort Wayne

FORT WAYNE, IND. — Vermillion Development, a Chicago-based real estate firm, has opened Silver Birch Fort Wayne, an affordable seniors housing community in Fort Wayne. Design and engineering firm HED partnered on the project. The 97,000-square-foot community sits on 4.2 acres and features 119 units. The assisted living facility offers studio and one-bedroom units for older adults in need of supportive housing. Silver Birch Fort Wayne is the eighth facility opened by Silver Birch Living, which …

JLL Arranges Sale of 143,499 SF Outpatient Facility in Indianapolis

INDIANAPOLIS — JLL’s Healthcare Capital Markets division has arranged the sale of a 143,499-square-foot Class A outpatient facility on the campus of Indiana University Health Methodist Hospital in Indianapolis. It is the largest hospital complex in Indiana with 1,411 staffed beds. Known as Methodist Professional Center II, the facility is fully occupied by Indiana University Health and its affiliates. Built in 1992, the four-story property sits on 1.4 acres. Mindy Berman, Justin Hill and …

NorthMarq Arranges $8M Refinancing for Apartment Community in Jeffersonville, Indiana

JEFFERSONVILLE, IND. — NorthMarq Capital has arranged an $8 million loan for the refinancing of Beech Grove Apartments in Jeffersonville. Built in 1972 and renovated in 2006, the 182-unit apartment property is located at 3014 Beech Grove Court. Noah Juran of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule and a fixed rate. A life insurance company provided the

Marcus & Millichap Brokers $33.5M Sale of Student Housing Portfolio Near Purdue University

WEST LAFAYETTE, IND. — Marcus & Millichap has brokered the sale of a 528-bed student housing portfolio in West Lafayette near Purdue University for $33.5 million. A joint venture between Muinzer and South Street Capital purchased the 152-unit portfolio. The buildings, constructed between 1983 and 1993, are all located within walking distance of campus. Brent Silcox and Austin Meeker of Marcus & Millichap represented the undisclosed seller and procured the

Maverick Commercial Arranges Four Loans Totaling $22.5M to Refinance Indiana Multifamily Portfolio

PORTAGE, WEST LAFAYETTE AND VALPARAISO, IND. — Maverick Commercial Mortgage has arranged $22.5 million in refinancing for a four-property multifamily portfolio in Indiana. The assets include Breckenridge Apartments, a 168-unit property in Portage; Point West and Point West II, two manufactured housing communities in West Lafayette; and Williamsburg Manor, a 223-site manufactured housing community in Valparaiso. The four nonrecourse loans all featured 10-year terms with 30-year amortization …

Brightmark Energy Receives $260M Financing for Plastics-to-Fuel Plant in Indiana

ASHLEY, IND. — Brightmark Energy has received $260 million in financing to build the nation’s first commercial-scale plastics-to-fuel plant in Ashley, a small town of fewer than 1,000 residents in the northeast corner of Indiana. The financing includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs & Co. Brightmark plans to invest $47 million in the plant, according to KPC News, a local news outlet. Brightmark is the controlling owner of RES …

Greenleaf Foods to Invest $310M for Manufacturing Plant in Shelbyville, Indiana

SHELBYVILLE, IND. — Greenleaf Foods SPC has selected Shelbyville as the location for a new plant-based protein foods production facility. The company says it will invest $310 million in the new plant and create as many as 460 jobs by the end of 2022. The 230,000-square-foot facility will double Greenleaf’s production capacity. Greenleaf has not yet selected a general contractor for the build-to-suit project. Incentives from the city and Shelby County totaled $2.5 million. The state offered …

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