Villages on Madison

Location: Anderson, IN
Type: Multifamily
Price: $6,860,000

SMC provided a $6,860,000 ten year fixed rate loan to facilitate the refinance of a 214 unit, garden style, multifamily property located in Anderson, IN. The 22.8-acre site is improved with 17 two-story apartment buildings and one clubhouse originally constructed in 1973. The improvements are of wood-frame construction with brick veneer and wood siding exteriors. Community amenities include a swimming pool, playground, basketball court, common laundry rooms, on-site maintenance, picnic and BBQ area, and the clubhouse with leasing office. At time of closing, the Property was 89.7% occupied.