Indianapolis, July 21, 2016 – CBRE Group, Inc. announced today that it secured permanent refinancing of the existing debt on Fountainview Apartments, Lake Camelot Apartments and Lodge Apartments, three multifamily properties located in Indianapolis.
Jason Brown and Dan Gable from CBRE Capital Markets’ Debt & Structured Finance team in Indianapolis worked on behalf of Zidan Management Group to fund three separate loans through CBRE’s Freddie Mac Seller/Servicer platform. Two of the loans were funded through the Conventional Freddie Mac program and one was funded through the Freddie Mac Small Balance Loan program.
The borrower was able to get cash out of each transaction, which will allow them to further invest in interior and exterior upgrades to the properties, according to Jason Brown, first vice president, CBRE Capital Markets.
“Our client was able to seamlessly refinance three loans and utilize the index lock feature and lock in the treasury index at application to avoid interest rate risk,” said CBRE’s Brown. “The refinance allowed the borrower to pay off the maturing CMBS loans, increase cash flow, and take some cash out while locking in a low-interest rate.”
CBRE’s Debt & Structured Finance team in the Central Midwest specializes in capital structuring primarily in Indiana, Michigan, Ohio, and Kentucky. They originate debt and equity for all major property types including multifamily, office, industrial, retail, hospitality, condominium, and technology.
To request an interview with a CBRE professional, please contact Joe Ludwig at +1 513 369 1305 or joe.ludwig@cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
