CHICAGO, ILLINOIS — Essex Capital Markets, LLC is pleased to announce the successful financing of a 32-unit multifamily property located at 2601 and 2633 Morningside Drive in Crown Point, Indiana.
Transaction Summary
- Loan Type: Acquisition Financing
- Property Type: Multifamily
- Location: Crown Point, Indiana
- Unit Count: 32 Units
- Loan Amount: $2,820,000
- Lender Type: Credit Union
- Leverage: 60% Loan-to-Value
- Capital Markets Team: Director Asher Motew and Director Quinn Keenan
Acquisition Financing Overview for Crown Point Multifamily Property
On behalf of the borrower, Essex Capital Markets arranged a $2,820,000 acquisition loan with a credit union lender. The financing was structured at a 60% loan-to-value ratio, providing the sponsor with a balanced combination of stability and flexibility to execute their business plan.
This transaction required a sponsor-driven approach, as the asset lacked historical financials and a formal rent roll. The execution centered on clearly presenting the sponsor’s business plan and aligning with a lender capable of underwriting the opportunity beyond traditional metrics.
“This was a true sponsor-driven execution. With no historical financials or rent roll, the credit decision came down to telling the right story and aligning with a lender who understood the opportunity. We were able to structure a competitive loan that gives the borrower the time and flexibility needed to execute on clear rent upside while protecting the lender through strong fundamentals and sponsorship,” said Director Asher Motew.
Crown Point Multifamily Market Fundamentals
Located in the Crown Point submarket, the property benefits from strong suburban fundamentals driven by steady population growth, accessible commuter routes, and a stable renter base. The area continues to attract multifamily investment due to its relative affordability compared to nearby urban markets and consistent demand from both local and regional renters.
Essex Capital Markets Transaction Team
The transaction was facilitated by Director Asher Motew and Director Quinn Keenan. This closing highlights Essex Capital Markets’ ability to navigate complex, sponsor-led executions and deliver competitive financing solutions through strong lender relationships and disciplined process management.
This transaction reinforces Essex Capital Markets’ role as a strategic capital advisor, overseeing lender strategy, underwriting, and negotiations with precision while supporting multifamily owners in executing their long-term investment objectives.
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About Essex Capital Markets
Essex Capital Markets is a Chicago-based commercial real estate capital markets advisory firm specializing in multifamily and investment property financing. The firm works with property owners and investors to arrange acquisition loans, refinancing, and debt recapitalizations through relationships with banks, agency lenders, debt funds, and private capital sources across the commercial real estate lending market.