NorthPoint Capital Arranges $65.5M Loan for Refinancing of Industrial Portfolio in Indiana
INDIANAPOLIS, PORTAGE AND SOUTH BEND, IND. — NorthPoint Capital Funding Inc. has arranged a $65.5 million loan for the refinancing of a 15-property industrial portfolio in Indiana and Tennessee. The assets are located in Indianapolis, Portage and South Bend, Indiana, as well as Nashville. A mix of 36 tenants specializing in manufacturing or warehouse and distribution occupy the properties. The 10-year loan enabled the borrower, Holladay Properties, to retire multiple bank loans while forming a new entity that can be used to guarantee the financing of future development projects. AIG provided the loan.