HFF recently secured financing for 1201 Indiana Townhouses & Apartments, a 253-unit, 667-bed, student-oriented urban apartment community near the campus of Indiana University-Purdue University Indianapolis in downtown Indianapolis.
HFF worked on behalf of the borrower, a joint venture between Trinitas Ventures and Harrison Street Real Estate Capital, to arrange permanent financing to replace the borrower’s construction bank loan. The financing was secured through M&T Realty Capital Corporation as a Fannie Mae execution. 1201 Indiana represents the third financing that HFF and M&T have secured for Trinitas and Harrison Street joint venture-owned projects.
Completed in 2011, 1201 Indiana serves the more than 30,000 students of IUPUI. The property is a four-story, mid-rise building with one-, two-, three- and four-bedroom luxury furnished units averaging 1,160 square feet each. Community amenities include an oversized pool and sundeck, clubhouse, 24-hour fitness center, tanning beds, security and shuttle service access to and from IUPUI.
Jon Everson led the HFF team representing the borrower.
