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Indianapolis Class A Office NPL Sale

RealINSIGHT Marketplace and Mission Capital Advisors are pleased to offer the opportunity to acquire a $18,989,889 non-performing loan secured by a first-lien deed-of-trust on a 179,526 square foot multi-tenant office property located in Indianapolis, Indiana (the “Loan”).

The Loan was originated on November 22, 2006 in the amount of $23,214,384 for a 10-year term maturing on December 01, 2016.  The purpose of the Loan was to refinance the subject property and transfer the real estate to a newly formed single purpose entity. The Loan defaulted at maturity on December 1, 2016, with foreclosure proceedings commencing shortly thereafter. A receiver was appointed in March 2017.

The Loan is secured by a first lien Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing on a 4-story office building located in Indianapolis, Indiana (the “Property”). The Class A building was built in 1979 and is currently 31.71% occupied as of June 2019. The 179,526 net rentable square feet of office space remains one of the top tier Class A office buildings in the Fishers/Geist submarket of Indianapolis. The Property maintains premier access and visibility off Interstate-69 and is located in Fishers, Indiana, one of the fastest growing markets in the MSA.

INVESTMENT HIGHLIGHTS

Maturity Defaulted Loan – The $18.99mm loan maturity defaulted on December 1, 2016.  A receiver was appointed on March 03, 2017. 

Premier Class A Office Property – The Loan is collateralized by a 4-story, 179,526 gross square foot Class A office building in the Fisher/Geist Submarket of Indianapolis.  Situated on a 16.68 acre site, the Property remains one of the premier office towers in the submarket. The Property features 555 total parking spaces, a 293-seat auditorium and a fitness center fully equipped with locker rooms and showers.


Excellent Location and Access – The Property is located within the Crosspoint Business Park in the City of Fishers, (Indianapolis), Hamilton County, Indiana and has direct frontage with above average visibility along Interstate-69, which is one of the fastest growing areas in the MSA. The Property is approximately 2 miles from the downtown area of fishers. The population within a one-mile radius of the Property is expected to grow at 5.54% between 2017 and 2022. The neighborhood is comprised of retail, office and industrial development along Interstate-69 including national big box tenants Meijer, Kohl’s, Walmart, Sam’s Wholesale Club, IKEA and Home Depot.

Value-Add Opportunity - The Property is currently 31.71% occupied, presenting investors with the opportunity to add value by leasing up large blocks of Class A office space.

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Non-Performing Note Secured by Office Building in Indianapolis, IN

Indianapolis, IN

Current Bid:
Starting Bid:

Asset Snapshot

  • Asset Type
  • Note
  • Loan Status
  • Non-Performing
  • Original Balance
  • $23,254,261
  • Unpaid Balance (UPB)
  • $18,989,889
  • UPB As Of Date
  • Jul 01, 2019
  • Maturity Date
  • Dec 01, 2016
  • Note Rate
  • 5.88%
  • Land Area
  • 16.68 Acres
  • Year Built
  • 1991
  • Number of Floors
  • 4
  • Number of Buildings
  • 1
  • Parking Count
  • 555
  • Occupancy
  • 31.71%
  • Occupancy as of
  • Jul 01, 2019
  • Office Type
  • Suburban Office
  • Property Size
  • 179,526 Sq Ft
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.