Flaherty & Collins Properties Secures $104M Financing for 360 Market Square in Indianapolis

HFF Announces $104M Financing for 360 Market Square in Indianapolis
360 Market Indianapolis

August 13, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $104 million in financing for 360 Market Square, a newly built, 27-story, mixed-use residential and retail property on the former Market Square Arena site in Indianapolis, Indiana.

The HFF team worked on behalf of the borrower, Flaherty & Collins Properties, to place the floating-rate loan with Heitman LLC, a global real estate investment management firm, which originated the loan on behalf of an affiliate of the firm. Loan proceeds will be used to retire existing construction financing.

360 Market Square comprises 292 apartment units with upscale condominium-quality finishes and approximately 42,000 square feet of ground-floor retail anchored by Whole Foods Market. In addition, the property includes a 550-space parking garage with 350 spaces reserved for resident parking. Completed earlier this year, the property incorporates eco-friendly features throughout and 10,000 square feet of amenity space, including a state-of-the-art fitness center, private yoga/spin studio, cyber café, screening lounge, business center and gaming lounge. Outdoor amenities include a landscaped courtyard, resort-style swimming pool and a 28th-floor sky deck offering panoramic skyline views. 360 Market Square is situated three blocks from Monument Circle in Indianapolis’ CBD, within a half mile of seven million square feet of Class A office space and the Massachusetts Avenue cultural district, which is home to some of the city’s top dining and nightlife destinations.

The HFF debt placement team representing the borrower included senior managing director David Keller and director Adam Mallory.