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Torchlight Investment Provides $52M Acquisition Debt, Equity for Indianapolis Asset
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Commercial Observer
Hudson Investing has secured $52.1 million in acquisition financing for Maple Knoll Apartments, a 300-unit garden-style multifamily complex just outside Indianapolis, Ind., Commercial Observer can first report.
Torchlight Investors provided the equity, while Northmarq structured the full capital stack for the transaction, providing the senior debt directly through Northmarq’s in-house Freddie Mac platform.
A Northmarq team of Annamarie Bjorklund and Cody Field arranged the transaction.
“We knew as soon as we met the Hudson team and saw their plan for the asset that they would be a natural fit,” Bjorklund said.
Hudson Investing is purchasing the property from Marquette Companies and HIMCO, but previous owners include Blackstone and GE Capital.