INDIANAPOLIS, IN – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $38.5 million in financing for two Indianapolis-area apartment communities, The Hamilton and BayShore Apartments.
Working on behalf of the borrower, entities controlled by The J.C. Hart Company, Inc., HFF placed the loans in two separate transactions. A $25.2 million, 15-year, fixed-rate loan was placed with 40/86 Mortgage Capital, Inc. for The Hamilton. Morgan Stanley Bank, N.A. closed a $13.3 million, fixed-rate loan for BayShore Apartments. Both loans were used to refinance existing debt on the properties.
The Hamilton is a 233-unit, Class A multi-housing asset located in the fast-growing Indianapolis suburb of Fishers, Indiana. Located at 116th Street and Hoosier Road, the property has immediate access to the Interstate 69/116th Street interchange and the plentiful amenities available in the area. Completed in 2014, the property features one-, two- and three-bedroom luxury units and offers extensive amenities, including a swimming pool with sun deck, grilling area with fire pit, state-of-the-art fitness center, indoor gymnasium, business center, café lounge, game room and garage parking.
BayShore Apartments is located on Main Street, just east of SR 135 in Greenwood, Indiana. Built by The J.C. Hart Company, Inc. in 1998, BayShore features 236 one-, two- and three- bedroom units, which average 893 square feet each. Community amenities include a swimming pool, hot tub, tennis court, indoor gymnasium, sand volley ball court, fitness center, clubhouse and business center.
The HFF debt placement team representing the borrower was led by senior managing director David B. Keller.
About J.C. Hart Company, Inc.: The J.C. Hart Company, Inc. is an industry leading multifamily developer, owner and operator Indianapolis, Indiana. Founded by John C. Hart, Sr. and John C. Hart, Jr., the company has been developing, building and managing distinctive apartment communities since 1976. To date, The J.C. Hart Company, Inc. has developed 7,307 residential units and currently manages approximately 4,536 residential units across central Indiana.
About HFF: HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.