Anderson Multifamily Portfolio

Location: Anderson, IN
Type: Multifamily
Price: $8,700,000

SMC provided an $8,700,000 ten year fixed rate loan to facilitate the acquisition of 2 garden style, multifamily properties totaling 284 units located in Anderson, IN. The properties were built in 1968 and 1988, and are located about 3 miles apart from each other, 15 miles southwest of Muncie and 35 miles northeast of Indianapolis. Amenities include fitness center, on-site laundry, playground, outdoor swimming pool, basketball court, and tennis court. At time of closing, the Portfolio occupancy was 93% occupied.