ACRES Provides $54.25 Million for Multifamily Property in Noblesville, IN
SEPTEMBER 03, 2025Loan to refinance a 210-unit Class A Multifamily Property in Indiana.
Noblesville, IN (September 3, 2025) – ACRES Capital Corp. (together with its affiliates “ACRES”) announced that it has funded a $54.25 million loan to refinance Promenade Trails, a best-in-class age-restricted garden/low-rise 210-unit apartment complex, located in Noblesville, IN. The property is part of a 120-acre master-planned community and offers 49 one bedroom/one bathroom and 161 two bedroom/two bathroom units and provides a total of 476 parking spaces. Amenities include a swimming pool, a sun deck, a fitness center with a wellness program and fitness coordinator, community events, a pet spa, a clubhouse and a dog park. The Sponsor is the Justus Companies, a fourth-generation Indianapolis real-estate firm that has delivered more than 20,000 residences since 1910.
“Promenade Trails exemplifies ACRES’ commitment to financing high-quality developments that elevate their submarkets,” said ACRES Chief Executive Officer and President Mark Fogel. “With the property’s extensive lifestyle amenities, strategic location, and the proven expertise of the Justus Companies, we are confident it will become a cornerstone of the Noblesville community.”
