The Maxwell is a class A luxury midrise apartment community located in the central business district of downtown Indianapolis, Indiana. Originally built as condos and then converted to market rate rentals, the interior finishes of the Maxwell offer a higher quality significantly above its new construction and luxury competitors, all while offering a discount to the higher market rents in the area. By utilizing an FHA HUD 223(K) loan to finance the asset, we were able to lock in a low fixed interest rate amortized over a 35 year period with a 35 year term – essentially removing interest rate risk and exit timing risk from the asset.