Finance O Indiana

CBRE closes $15 million loan for Indianapolis apartment development

  

CBRE closed a $15 million loan to refinance the 348-unit Marina Apartments in Indianapolis.

A Freddie Mac loan was obtained by Jason Brown and Dan Gable from CBRE Capital Markets’ Debt & Structured Finance team on behalf of their client, Zidan Management Group.

The 10-year, $15 million loan has a fixed 4.21 percent rate and is amortized over 30 years.

Zidan Management Group, Inc. is a multi-family property management company. FZMG currently owns and manages about 5,000 apartment units with a total market value in excess of $300 million.