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CIM Provides $83M Bridge Loan on Indy Apartments
CIM Group said Wednesday it had closed an $83-million bridge loan to TWG Development. The loan is secured by The Whit Apartments, a 334-unit luxury apartment building with 10,700 square feet of ground-floor retail and an adjacent 526-stall parking garage located at 307 N Pennsylvania St, in Indianapolis.
Built in 2019, The Whit apartments is approximately 80% leased and offers one-, two-, and three-bedroom apartments and significant amenities such as a rooftop pool, sundeck and lounge, and fitness center. The property’s retail space is fully-leased to 16-Bit Arcade Bar and MassageLux.
CIM Group notes that The Whit is strategically located within Indianapolis’ CBD and only a block from Massachusetts Avenue, a prominent district with a collection of dining, art and entertainment businesses.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing


