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Northmarq arranges $52.15M financing for Indiana apartment community
The $52.15 million package supports the acquisition of Maple Knoll Apartments and follows Hudson Investing’s repeat equity partnership with Torchlight Investment.
Northmarq’s Debt and Equity team arranged $52.15 million in debt and equity capital for Maple Knoll Apartments, a 300-unit garden-style multifamily community in Westfield, Indiana, according to ConnectCRE.
The financing was placed on behalf of the borrower, Hudson Investing, through a repeat equity partnership with Torchlight Investment, and Northmarq cited its direct relationship with Freddie Mac as part of the transaction structure.
ConnectCRE said the deal represents Northmarq’s fourth multifamily equity raise in Indianapolis-area suburban markets, and Hudson Investing plans a comprehensive renovation program for the property.
Built in 2007, Maple Knoll Apartments includes 18 three-story buildings on 23.97 acres in Hamilton County, offering one-, two-, and three-bedroom floor plans.