Indiana

63-Unit Senior Apartment Community for Low-Income Residents Opens in Indianapolis

by Kristin Harlow November 1, 2016

INDIANAPOLIS — The city of Indianapolis, along with TWG Development LLC and community leaders, recently celebrated the grand opening of Illinois Street Senior Apartments, a 63-unit, low-income housing community, on Oct. 28. Facilitated through the Department of Metropolitan Development (DMD), TWG was awarded U.S. Department of Housing and Urban Development (HUD) grant funds to purchase and develop the historic building at 1352 N. Illinois St. The vacant building once housed Fame Laundry Co. The city supported this project with two HUD funds: the HOME Investment Partnerships Program (HOME), which supports affordable housing projects across the city, and the National Stabilization Program (NSP), a competitive grant created to help local governments acquire and redevelop buildings. The Community Investments Division of DMD earned the NSP grant in 2015, enabling the city and TWG to invest in the property and return it to a community asset.

November 1, 2016

Hospitality Indiana Midwest Ohio

Walker & Dunlop Closes $15.5M Loan for Extended-Stay Hotel Portfolio in Ohio, Indiana

by Kristin Harlow October 28, 2016

CINCINNATI AND COLUMBUS, OHIO AND FORT WAYNE, IND. — Walker & Dunlop has closed a $15.5 million loan for the acquisition of four extended-stay properties in Ohio and Indiana by Sandpiper Hospitality. The financing is a three-year, interest-only bridge loan to allow Sandpiper to complete the acquisition while the properties are stabilized. Walker & Dunlop’s Stephen Farnsworth and Geoff Smith led the lending team. Two of the properties were recently constructed and have not yet achieved stabilization, and three of the four will undergo a rebranding from a Value Place to a WoodSpring Suites this quarter. The Value Place franchise is currently in the process of rebranding all of its properties to the new WoodSpring Suites. Extended-stay properties within the portfolio include WoodSpring Suites Easton and Value Place Worthington in Columbus, Value Place Fairfield in Cincinnati, and Value Place Fort Wayne in Fort Wayne.

October 28, 2016

Indiana Midwest Mixed-Use Multifamily Retail

Flaherty & Collins Properties Breaks Ground on $32M Mixed-Use Development in Kokomo, Indiana

by Amy Works October 19, 2016

KOKOMO, IND. — Flaherty & Collins Properties has broken ground on 306 Riverfront District, a $32 million mixed-use redevelopment of the former Apperson Brothers car factory and surrounding property into a luxury apartment community. Slated for completion in winter 2018, the property will feature 198 apartment units and 4,800 square feet of retail space. The residential units will feature granite countertops, pendant lights, programmable thermostats, nine-foot ceilings, 42-inch kitchen cabinets and high-efficiency washer and dryer units. The community will feature 6,800 square feet of amenities, including a heated pool with deck, courtyard with grilling stations, fire pit, outdoor kitchen and dining area, decorative lighting, club room with kitchen, fitness club, pet walk, e-lounge and bike storage areas. The Apperson Brothers factory was originally built in 1906 and housed the Apperson Automobile Co. until 1926. The property was then used as an industrial supply warehouse until it closed in 2007.

October 19, 2016

Indiana Midwest Office Retail

Bradley Co. Brokers Four Leases in Fort Wayne

by Amy Works October 19, 2016

FORT WAYNE, IND. — Bradley Co. has arranged four leases for office and retail space in Fort Wayne. Kelly Castle of Bradley Co. represented the tenant in each transaction. Levitate LLC leased 2,709 square feet of office space at 803 S. Calhoun St.; Deck Factory LLC inked a deal for retail space at 1509 Goshen Road; Mad Anthony Investments LLC leased 2,393 square feet of retail space at 2701-2703 Broadway; and RITS Ltd. Brokers signed a lease for retail space at 6127 Stellhorn Road within Maplewood Plaza. The names of the landlords were not released.

October 19, 2016

Indiana Midwest Retail

Namdar Realty Group Acquires 19,425 SF Retail Center in Columbus, Indiana

by Amy Works October 17, 2016

COLUMBUS, IND. — Namdar Realty Group has acquired State and Mapleton Plaza, a neighborhood retail center located at 2150 State St. in Columbus, about 40 miles south of Indianapolis. A private investor sold the property for a little more than $1 million. At the time of acquisition, the 19,425-square-foot property was fully occupied with CVS/pharmacy and Dollar General as anchor tenants. Joel J. Gorjian of Namdar Realty completed the all-cash, off-market transaction for the company.

October 17, 2016

Healthcare Indiana Loans Midwest Top Stories

Union Hospital in Western Indiana Receives $266.6M Mortgage Refinancing

by Jeff Shaw October 14, 2016

TERRE HAUTE, IND. — AMS Health Care Mortgage Corp., Piper Jaffray & Co. and JLL Capital Markets have closed on the funding of a $266.6 million FHA/GNMA-insured mortgage loan for Union Hospital in Terre Haute. Founded in 1892, Union Health provides care for the 277,657 residents of west central Indiana and eastern Illinois. The regional healthcare system is comprised of the flagship Union Hospital (Terre Haute), a 347-bed acute care hospital; Union Hospital Clinton, a 25-bed critical access hospital; and two rural health clinics (Clay City, Ind., and Marshall, Ill.), employing a total of 2,878 physicians and staff. The loan refinancing, insured under HUD’s Section 242 Mortgage Insurance for Hospitals program, significantly reduces the system’s annual debt service, saving Union Health and its patients approximately $148 million over the life of the loan. AMS is an FHA-approved mortgage lender that specializes in obtaining financing for hospitals. Piper Jaffray, an investment bank specializing in healthcare finance, worked closely with AMS in structuring the transaction, assisting Union Health in defeasing its existing tax-exempt debt and placing the GNMA securities with end investors. JLL, working closely with AMS and Piper Jaffray, is the FHA mortgagee of record and will service the loan over …

October 14, 2016

Indiana Midwest Office

Colliers Brokers Sale of 106,404 SF Office Building in Carmel, Indiana

by Amy Works October 12, 2016

CARMEL, IND. — Colliers International has arranged the sale of 550 Congressional, an office building located in Carmel, a northern suburb of Indianapolis. An affiliate of Tryperion Partners purchased the property from a joint venture between REI Real Estate Services and Perennial Investments in an all-cash transaction for an undisclosed sum. The three-story building features 106,404 square feet of Class A office space, a bocce ball court, fire pit and grill, outdoor meeting areas and a bike share program. Colliers represented the seller in the deal. This purchase is Tryperion’s first acquisition in the Indianapolis area.

October 12, 2016

Indiana Industrial Midwest Office Retail

Bradley Company Commercial Real Estate Completes Five Transactions in Indiana

by Amy Works October 11, 2016

AUBURN AND FORT WAYNE, IND. — Bradley Company Commercial Real Estate has completed five transactions in Auburn and Fort Wayne. In the first transaction, Carl Diehm of Bradley represented the landlord, Cenway Center, and the tenant, Agri-Labs Inc., in the lease of 2,160 square feet of retail space at 915 Cardinal Court within Cenway Business Center in Auburn. In the second deal, Tyler Binkley of Bradley represented the Feuser Contracting Inc. in the sale of an 11,992-square-foot office building at 7702 Bluffton Road in Fort Wayne. The name of the buyer and acquisition price were not released. In the third transaction, Stanley Phillips and Kelly Castle of Bradley represented the landlord, RITS Ltd. Brokers in the lease negotiation of retail space at 6127 Stellhorn Road within Maplewood Plaza in Fort Wayne. The name of the tenant and lease size were not released. In the fourth deal, Phillips represented the landlord, Fort Wayne Associates, and Binkley represented the tenant, Phil’s Hobby Shop, in the lease of retail space located within Parkwest Center at 3938 W. Jefferson Road in Fort Wayne. In the last deal, Paul Refakis of Bradley represented the landlord, Lynn Leasing, and Kienan O’Rourke of Bradley represented the tenant, Blasius …

October 11, 2016

Indiana Midwest Retail

Lee & Associates Arranges 1,860 SF Retail Space for Pure Barre Location in Indianapolis

by Amy Works October 10, 2016

INDIANAPOLIS — Lee & Associates has brokered the lease of retail space at 6280 N. College Ave. in Indianapolis. An undisclosed lessee plans to open a 1,860-square-foot Pure Barre location at the site within The Broad Ripple Garage. Crystal Kennard and Scot Courtney of Lee & Associates represented the undisclosed landlord in the transaction.

October 10, 2016

Indiana Midwest Office

Colliers Arranges Sale of 201,276 SF Office Park in Indianapolis

by Amy Works October 3, 2016

INDIANAPOLIS — Colliers International has brokered the sale of Waterfront Office Park, an office park located at 2611-2780 Waterfront Parkway E. Drive in Indianapolis. New Boston Fund sold the four-building, 201,276-square-foot park for an undisclosed price. Alex Cantu, Rich Forslund and Matt Langfeldt of Colliers Indianapolis | Capital Markets represented the seller in the deal. The name of the buyer was not released.

October 3, 2016

Newer Posts

Older Posts