Berkadia recently secured the financing for Pickwick Farms, a 516-unit garden-style multifamily property in Indianapolis, Indiana.
Managing Director Jason Brown and Senior Real Estate Analyst Austin Katai of Berkadia Indianapolis secured the $40.2 million in permanent refinancing on behalf of the borrower, Indiana-based Zidan Management Group, Inc. The deal closed on Nov. 30.
The 10-year Fannie Mae loan features a 3.7 percent interest rate and a 30-year amortization schedule.
Located at 1540 Handball Lane, Pickwick Farms features studio, one-, two- and three-bedroom floor plans with air conditioning and private balconies or patios. Community amenities include a swimming pool, a fitness center, a dog park, a playground, a picnic area with grilling stations, a basketball court and a volleyball court. The property affords residents convenient access to Ascension St. Vincent Hospital, Interstate 465 and the shops and restaurants along North Michigan Road.