Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Merchants Capital Secures Financing on Indianapolis MXU
Merchants Capital secured $59 million in financing for Bottleworks District, a mixed-use project coming to Indianapolis’ North Mass Ave. corridor in September. The three-year construction loan from Merchants Bank of Indiana was secured on behalf of Hendricks Commercial Properties.
Bottleworks reconfigures a Coca-Cola bottling plant, and part of the financing involves Indiana Industrial Recovery Tax Credits. These provide an incentive for companies to invest in former industrial facilities requiring significant rehabilitation or remodeling.
“This transaction is a bit outside our box, and it’s very impressive that our team – including Kate Belser, Ryan Thompson and Daniel Dixon – were able to identify risks, mitigants, structure tweaks and more to ultimately help us execute this financing,” said Matt Kaercher, leading originator on the deal.
Bottleworks will feature the city’s first food hall, along with a boutique hotel, residential options, 180,000 square feet of flexible office and 175,000 square feet of prime retail.
Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.
Rendering courtesy of Pivot Marketing.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
