FM Capital Originates a $6 Million Bridge Loan in Indianapolis, IN
Mar 22, 2019
FM Capital's direct lending platform originated a $6 Million bridge loan for the acquisition of a retail shopping plaza in Indianapolis, IN. The 182,056 square foot retail center is comprised of two buildings and an outparcel with an occupancy of approximately 89%. With current rent below market value, sponsorship will seek to bring the rents back to market, increasing profitability. Additionally, the property benefits from immediate access to major highways. Tenants include: Shoppers World, Dollar Tree, Dollar General and Payless Shoe Source. FM Capital was able to execute quickly and meet the borrower's closing time frame.