$31 million financing for mixed-use property in suburban Indianapolis arranged by HFF
INDIANAPOLIS, IN – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $31 million in financing for The Depot at Nickel Plate, a recently-completed, mixed-use property with 242 luxury residential units and 17,045 square feet of ground floor retail located in Fishers, Indiana.
HFF worked on behalf of the borrower, Flaherty & Collins Properties, to secure the 10-year, fixed-rate loan through a correspondent life insurance company. Loan proceeds were used to replace the existing construction financing and return capital to the owners.
Completed in April 2015, The Depot at Nickel Plate is situated on 3.5 acres at 8594 East 116th Street in Fishers, Indiana less than one half of a mile from the Interstate 69 and 116th Street interchange. The residential component consists of 50 percent one-, 49 percent two- and one percent three-bedroom units ranging from 703 to 2,297 square feet each. Units feature nine-foot ceilings, granite countertops, stainless steel appliances, USB outlets and full-size washers and dryers with select units offering Nest® thermostats, prewiring for Bluetooth® surround sound and upgraded appliance packages. Community amenities include a health club with interactive fitness classes, a yoga/Pilates studio, game room, cyber café, screening lounge and club room. Outdoor amenities include two courtyards, resort-style swimming pool, grilling areas, pet wash and bark park, which are all served by an attached 430-space parking garage.
The HFF debt placement team representing the borrower was led by senior managing director David B. Keller.
“This property is an important element to the City of Fisher’s Nickel Plate redevelopment project. The Depot provides key ‘live-work-play’ amenities to the area’s downtown core,” said Keller.
About Flaherty & Collins Properties
Headquartered in Indianapolis, Indiana, Flaherty & Collins Properties is a leader in development, construction and property management. Since 1993, Flaherty & Collins Properties has completed more than $2 billion in development and has an ongoing pipeline of a half billion in development. Additionally, the company manages nearly 15,000 multifamily units in 12 states across the nation.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.