Capital One has provided a $19 million Freddie Mac variable-rate loan for the acquisition of Eagle Chase Apartments, a 156-unit multifamily community in Indianapolis, Indiana.
The sponsor, Summit Equity Investments, is a repeat Capital One and Freddie Mac customer. Kristen Croxton and Greg Reed, senior vice presidents in Capital One Agency Finance’s office in Newport Beach, California, originated the transaction. The 10-year loan has five years of interest-only payments followed by amortization on a 30-year schedule.
Summit Equity Investments is a family office investor and investment manager that acquires and manages multifamily real estate in strong, secondary markets throughout the United States.
Built in 1995, Eagle Chase is a pet-friendly community a short walk from Eagle Creek Park, one of the largest municipal parks in the United States. It offers a variety of one- and two-bedroom floor plans with expansive walk-in closets and private balconies and patios. Common-area amenities include a clubhouse with exercise room and full kitchen, a lighted tennis court, and a resort-style swimming pool.
