Northmarq’s Debt + Equity team, led by Annamarie Bjorklund and Cody Field, arranged debt and equity capital totaling $52.15 million for Maple Knoll Apartments, a 300-unit garden-style multifamily community located at 500 Bigleaf Maple Way in Westfield, Indiana.
Northmarq arranged the debt and equity on behalf of the borrower, Hudson Investing, through a repeat equity partnership with Torchlight Investment and Northmarq’s direct relationship with Freddie Mac, providing a comprehensive capital solution for the acquisition.
Northmarq was uniquely positioned to deliver the best execution by sourcing both the equity and the debt for Hudson under one roof, reflecting the strength of Hudson’s reputation as a disciplined, well-capitalized sponsor.
Northmarq also evaluated a broad range of financing alternatives, including debt funds, life companies and institutional equity sources, ultimately crafting a customized capital stack to meet the sponsor’s acquisition and business plan objectives.
The transaction marks Northmarq’s fourth multifamily equity raise in Indianapolis-area suburban markets, further strengthening the firm’s track record across the region.
The acquisition represents a significant milestone for Hudson Investing, underscoring its growing track record of executing on ambitious value-add strategies and its emergence as a go-to sponsor for larger, institutional-quality multifamily investment opportunities.
Hudson Investing plans a comprehensive renovation program at the property, targeting meaningful rent growth through a value-add repositioning strategy.
Based just north of Indianapolis, Hudson Investing is a vertically-integrated owner-operator with a growing portfolio of investments across the market. Known for its hands-on approach and disciplined execution, Hudson will bring deep local expertise, established vendor relationships and an on-the-ground presence to Maple Knoll, which has been owned by an out-of-state institutional partnership for the past 10 years.
Built in 2007, Maple Knoll Apartments features 18 three-story garden-style apartment buildings situated on 23.97 acres in Hamilton County. The property offers one-, two- and three-bedroom floorplans with an average unit size of 1,002 square feet.
