Eastern Union Arranges $54M in Acquisition Financing for Indianapolis Multifamily Portfolio
INDIANAPOLIS — Eastern Union has arranged $54 million in acquisition financing for a three-property multifamily portfolio totaling 628 units in Indianapolis.
Built in 1980, Lake Marina features 348 units across 28 buildings. Lake Marina Realty LLC was the seller. Country Lake Townhomes is a 184-unit property that was built in 1974. Country Lake Apartments LLC was the seller. Zidan Realty Investments sold the 96-unit Fountainview, which was constructed in 1965.
Michael Muller of Eastern Union arranged the 10-year, floating-rate loan with interest-only payments for the first five years. Arbor provided the Fannie Mae loan. The borrower was undisclosed.