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Berkadia Lines Up Acquisition Loans on Indy Metro Apartments

Berkadia arranged financing for Barton Farms and Bexley Village, two multifamily properties located in Greenwood, IN, near Indianapolis. Managing director Jason Brown and senior real estate analyst Austin Katai of Berkadia Indianapolis secured the $56.7 million in acquisition financing on behalf of the borrower, Indiana-based Zidan Management Group.

The five-year bridge loan was financed through CBRE Global Investors. It features a 3.25% interest rate. 

“The non-recourse bridge loan closed in 36 days and provides for future funding for Zidan Management Group to implement a capital improvement and rent growth strategy,” said Brown.

“The upward trend in demand for apartment-style living will continue as we navigate the ‘new normal,’” said Zidan Management founder Raed Zidan. “Comfort, convenience, healthy living and work-life balance are top of mind and these two communities provide just that. They are a great addition to our family of properties throughout Indiana, Michigan, Illinois and Ohio.”

Pictured: Bexley Village. Photo courtesy Zidan Management Group.

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Berkadia’s BrownZidan Management Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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