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Ivy Station Reveal – Upper Ivy Apartments at 500,000-square-foot Mixed-use Development Welcoming Residents – Office, Hotel and Retail Set for Summer Opening

Ivy Station Reveal – Upper Ivy Apartments at 500,000-square-foot Mixed-use Development Welcoming Residents – Office, Hotel and Retail Set for Summer Opening
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CIM Group Closes $83.0 Million Bridge Loan Secured by The Whit Apartments in Indianapolis, IN


Press release content from Business Wire. The AP news staff was not involved in its creation.
CIM Group Closes $83.0 Million Bridge Loan Secured by The Whit Apartments in Indianapolis, IN
February 3, 2021 GMT
LOS ANGELES (BUSINESS WIRE) Feb 3, 2021
CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer, announced today that it has closed an $83.0 million bridge loan provided 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, IN.
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. The Whit is strate ....

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