Marcus & Millichap Capital Corporation has arranged a $17.4 million senior debt, cash-out refinance for Nine+Eighteen Apartments at 918 Fort Wayne Ave. in Indianapolis.
MMCC’s Robert Bhat, senior vice president, exclusively financed the deal, a 10-year, non-recourse loan with an LTV of 70 percent.
The five-story mixed-use multifamily property was built in 2020 and is made up of 80 apartment units and 2,500 square feet of ground-floor retail space. The property is located close to major thoroughfares such as Interstate-65 and is near urban centers, green spaces and waterfront access as well as historical sites, hospitals and schools in the area.
