HFF has arranged $24.3 million in financing for Pickwick Farms Apartments, a 516-unit multi-housing community in Indianapolis.
HFF worked on behalf of Pickwick Properties, LLC to secure the 10-year, 3.6-percent fixed-rate loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.
Pickwick Farms, built in two phases from 1978 to 1980, is located on the northwest side of Indianapolis, near 86th Street and Interstate-465. Renovated in 2007, the property includes studio, one-, two- and three-bedroom units that are leased both unfurnished and furnished. Community amenities include a movie theatre, racquetball court, indoor basketball court, playground, community room, fitness center, swimming pool and two tennis courts. At closing, Pickwick Farms was 96-percent occupied.
The HFF team representing the borrower was led by managing director Jon Everson and senior real estate analyst Zachary Roden.