Dwight Mortgage Trust Refis Indianapolis Apartments With $27M Loan
By Andrew Coen July 12, 2024 12:53 pm
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Pepper Pike Capital Partners has sealed $26.8 million of bridge financing to refinance an Indianapolis multifamily asset, Commercial Observer has learned.
Dwight Mortgage Trust, the affiliate real estate investment trust of Dwight Capital, provided the loan on Pepper Pike’s 241-unit Fountain Parc Apartments property in a deal led by David Scheer. Loan proceeds will be used to retire existing debt and fund interior improvements at the garden-style apartment complex.
Fountain Parc Apartments are at 4901 Whitton Place in Indianapolis’ Eastwood neighborhood, just off Binford Boulevard and about nine miles northeast of downtown. The 15-acre apartment complex features 14 two-story buildings with one-, two- and three-bedroom units. Community amenities include a fitness center, pool, pet wash station, dog park, playground and fire pit area.
Officials at Dwight and Pepper Pike Capital Partners did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
