INDIANAPOLIS—Recently GlobeSt.com has reported on the growingstrength of both the office and industrial sectors in Indianapolis. But theresidential sector has not been left out of the developingrecovery. And like many Midwest cities, more people here havebecome attracted to the idea of living downtown. MissionCapital Advisors, for example, has just arranged $31.4million in construction financing for the construction of afour-story, 215-unit multifamily complex in downtown Indianapolis.The financing comprised $7.1 million of institutional joint ventureequity and a $24.3 million construction loan for the225,000-square-foot project that a local sponsor is developing.

Brad Lyons, Ari Hirt andSteven Buchwald represented the sponsor inarranging the financing with PNC Bank N.A.

“Mission leveraged its local market knowledge and nationalrelationships to identify an institutional partner to contribute$7.1 million of joint venture equity to the project,” says Lyons.“After arranging the joint venture equity financing, Missionleveraged its deep relationships with construction lenders tosecure the most efficient capital source for the $24.3 million debtfinancing, and achieve a smooth closing and timely execution.”