Sunday, June 2, 2013

HFF arranges $24.3 million financing for Pickwick Farms Apartments in Indianapolis



                                      Pickwick Farms Apartments, Indianapolis, IN

INDIANAPOLIS, IN – HFF announced it has arranged a $24.3 million financing for Pickwick Farms Apartments, a 516-unit multi-housing community in Indianapolis, Indiana.

Jon Everson
HFF worked on behalf of Pickwick Properties, LLC to secure the 10-year, 3.6 percent fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program. 

Pickwick Farms, built in two phases from 1978 to 1980, is located on the northwest side of Indianapolis, near 86th Street and Interstate 465.  Renovated in 2007, the property includes studio, one-, two- and three-bedroom units that are leased both unfurnished and furnished. 

Community amenities include a movie theatre, racquetball court, indoor basketball court, playground, community room, fitness center, swimming pool and two tennis courts.  At closing, Pickwick Farms was 96 percent occupied.

Zachary Roden
The HFF team representing the borrower was led by managing director Jon Everson and senior real estate analyst Zachary Roden.

“This property was especially attractive to lenders due to its experienced sponsorship, highly desirable infill location, heavily populated medical district and the fact it is located less than half of a mile south of Hamilton County, the fastest growing county in Indiana,” commented Everson.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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