NEW YORK – July 21, 2020 – Berkadia today announced the $16.6 million in financing secured for River House, a mid-rise multifamily property in Indianapolis, Indiana. Senior Directors Michael Zaremski and Michael Shmuely of Berkadia’s New York office together secured the permanent refinancing on behalf of the borrower, an undisclosed entity.
The 10-year Freddie Mac loan, which was used to retire a construction loan, features a 30-year amortization schedule.
River House, located at 6311 Westfield Blvd. in Broad Ripple Village, features studio, one- and two-bedroom floor plans with large closets, in-unit washers and dryers, granite countertops and large windows. Community amenities include a rooftop balcony with picturesque views of the canal and Downtown Broad Ripple, a fitness center and an enclosed parking garage. Residents are afforded convenient access to Monon Trail and the shops and restaurants along both Broad Ripple Avenue and E Westfield Boulevard.