INDIANAPOLIS, IN – HFF announced that it has secured financing for 1201 Indiana Townhouses & Apartments (“1201 Indiana”) (top left photo), a 253-unit / 667-bed, Class A, student-oriented, urban apartment community near Indiana University-Purdue University Indianapolis (IUPUI) (lower left photo)in Indianapolis, Indiana.
HFF worked on behalf of the borrower, a joint venture between Trinitas Ventures (“Trinitas”) and Harrison Street Real Estate Capital (“HSRE”), to arrange permanent financing to replace the borrower’s construction bank loan.
The financing was secured through M&T Realty Capital Corporation as a Fannie Mae execution. 1201 Indiana represents the third financing that HFF / M&T have secured for Trinitas and HSRE joint venture-owned projects.
Completed in 2011, 1201 Indiana serves the more than 30,000 students of IUPUI. The property is a four-story, mid-rise building with one-, two-, three- and four-bedroom luxury furnished units averaging 1,160 square feet each.
Community amenities include an oversized pool and sundeck, clubhouse, 24-hour fitness center, tanning beds, security, and shuttle service access to and from IUPUI. 1201 Indiana has an urban infill location in close proximity to IUPUI’s campus on the west side of downtown Indianapolis. Access to campus is provided by a university bus stop at the property.
The HFF team representing the borrower was led by managing director Jon Everson (middle right photo).
Trinitas Ventures and Harrison Street Real Estate Capital are experienced owners and managers of student-oriented multi-housing communities throughout the United States.
Contacts:
JONATHAN P. EVERSON
HFF Managing Director
(317) 630-3191
KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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