Joe Markech, managing director in SunTrust CRE’s Chicago office, originated a $4.25 million loan with Fannie Mae for the refinance of Temple Lofts Apartments in Indianapolis.
SunTrust originated a 12-year term loan with one year of interest-only followed by a 30-year amortization schedule to refinance a construction/renovation loan.
Temple Lofts is located close to downown Indianapolis, Indiana University-Purdue University-Indianapolis and local hospitals. It features 40 units in two three-story buildings.
