Our Projects

OUR PROJECTS


Gary State Bank Building

gary stateGateway Partners LLC recently closed on the acquisition of 107 year old 10-story former Gary State Bank Building located at Broadway and W. 5th Avenue in Gary, Indiana through 504 Redevelopment LLC. Centier Bank has agreed togary lease space on the first floor, marking the return of banking operations to the building for the first time since 2008. The project will include the demolition of three adjacent structures, construction of a drive-through and development of parking and green space. House Investments provided acquisition and predevelopment financing, and the City of Gary issued TIF bonds in the amount of $2,875,000 to support the first phase renovations.  Anderson Partners LLC acted as developer counsel to the project, and Jon Anderson is a member of 504 Redevelopment LLC and Gateway Partners LLC.


Jennings Apartments

2jennings aptAnderson Partners LLC recently closed on the financing for the Historic Jennings Apartments in New Castle, Indiana.  The $6 million project includes the revitalization of one of Indiana Landmarks 10 Most Endangered through the use of Section 42 Low Income Housing Tax Credits from the Indiana Housing and Community Development Authority and TIF financing from the City of New Castle.   When completed, the Jennings Building will house 20 affordable apartments and four new eateries.  Anderson Partners LLC acted as counsel and co-developer with Historic Properties, Inc.,including preparation of the successful tax credit application.  We also represented First Merchants Bank, N.A., which provided the construction financing.  Great Lakes Capital Fund provided tax credit equity to the project, which was designed by Halstead Architects and will be built by Community Construction Corporation.


1733 Meridian Apartments

Anderson Partners LLC recently closed on permanent financing for 1733 Meridian Apartments in Indianapolis, Indiana, located just north of the downtown historic district.  The project was funded through a loan from Merchants Bank of meridianIndiana. The project is the renovation and restoration of the historic Spink Apartments.  Anderson Partners acted as tax credit and developer counsel to Legacy Urban LLC and Riley Area Development Corporation.  The renovated project opened in May 2013 and is managed by MBA Property Management.

 


Walnut Commons

walnutAnderson Partners LLC recently closed on tax credit and debt financing for Walnut Commons LLC.  In partnership with Meridian Health Services and UP Development LLC, the $8.3 million Walnut Commons is the new construction of 44 units of Permanent Supportive Housing in Muncie, Indiana for people who are homeless or at risk of homelessness.  Anderson Partners LLC represented the developers as well as First Merchants Bank, N.A. in the transaction.  National Equity Fund provided tax credit equity, and the Indiana Housing and Community Development Authoritycontributed an award of Low-Income Housing Tax Credits, a Development Fund loan and HOME Funds.  The Federal Home Loan Bank of Indianapolis provided an Affordable Housing Grant of $500,000.


­­­­­­­­­­­­­­­­­­Soil-Max Asset Acquisition

soil maxAnderson Partners LLC recently represented a privately owned Indiana company in the negotiation and closing of a sale of its assets to Soil-Max in Brazil, Indiana.  Soil-Max is an innovator and manufacturer of agricultural water management products, including the Gold Digger Tile Plow.  The deal included the sale of all assets, including intellectual property, and the lease of certain real property assets.


Mahencia Apartments

3 4Anderson Partners LLC is acting as legal counsel and application consultant to Turnstone Development in the rehabilitation of the 86 year old Mahencia Apartments in Gary, Indiana.  The Mahencia is a grand structure designed to celebrate the Renaissance Revival, and was once one of the premier addresses in Gary.  Turnstone was selected through an RFP process by the City of Gary, which has owned the abandoned structure for several years. Turnstone will utilize historic and low-income housing tax credits in the creation of 32 affordable housing units.

 


Little People’s Prep Day School

5Anderson Partners LLC recently acted as counsel in the sale of the Little Peoples Prep Day School facility on the eastside of Indianapolis.  Our clients operated the school for more than 30 years, and have now passed the torch to the Safecare Development Childcare Center.


Central Greens

central greensAnderson Partners recently represented Central Greens LLC, led by Mike Higbee (DC Development Group), in the acquisition of four historic structures at the former Central State Hospital site from the City of Indianapolis.  Central Greens is the master redeveloper for the site through a Project Agreement with the City of Indianapolis and is partnering with Reverie Estates in redevelopment of the properties, to include student housing, event space, office and industrial space and a brewery.

 

 


Classical Arts Center

6Anderson Partners is acting as legal counsel and developer to Indiana Ballet Theatre in creating a Classical Arts Centre to benefit all of northwest Indiana.  The former Lake County Nurses Sanatorium was donated to the Indiana Ballet Theatre by the Lake County Commissioners.  The building is located at the gateway of Crown Point on Main Street at the northern most point of the city. The project will be funded through a combination of fundraising, Federal Rehabilitation Tax Credits and loans.

 

 


 South Bend Career Academy

south bend 1Anderson Partners recently closed on $4 million in Qualified Zone Academy Bond financing for South Bend Career Academy, a Ball State University charter school.  The school opened in August 2011 in a former call center in the Blackthorn Office Park on the northwest side of South Bend.  Panzika Building Corporation of South Bend designed and completed the renovations.  The financing, assembled by Anderson Partners LLC through an allocation of bond volume by the Indiana Department of Education, was issued by the Public Finance Authority.

 


Herron High School

8 9Anderson Partners LLC recently acted as bond counsel on Qualified School Construction Bond (QSCB) and 501(c)(3) bond financing for Herron High School, a liberal arts based public charter school in downtown Indianapolis.  This financing was a partial refinance of QSCB bonds Anderson Partners coordinated and issued in 2010.  Horizon Bank acquired the QSCB bonds from the prior lender, and refinanced additional taxable debt with a favorable tax exempt bond.  The Public Finance Authority acted as issuer for the bonds.


Parkview Place / Anderson YMCA

01 02Anderson Partners LLC recently closed on tax credit and construction financing for Parkveiw Apartments, the renovation of the upper three floors of the Anderson YMCA into 30 senior living apartments at a projected cost of $5.9 million. The project received $343,419 in Low-Income Housing Tax Credits from the Indiana Housing and Community Development Authority, $500,000 in Federal Historic Rehabilitation Tax Credits, $400,000 in HOME funds from the City of Anderson, and a $300,000 AHP grant from the Federal Home Loan Bank of Cincinnati.  The Episcopal Retirement Homes will manage the facility which was designed by Halstead Architects and will be built by The Model Group. Construction financing for the project is being provided by Huntington National Bank and US Bank provided tax credit equity.


Charter School of the Dunes

0304Charter School of the Dunes in Gary, Indiana held its grand opening on August 9, 2013 after completion of a $13 million new school facility on 9 acres.  Anderson Partners LLC acted as bond, borrower and tax credit/QALICB counsel in closing the financing, which included $8.3 million in Qualified School Construction Bonds (QSCB) and New Market Tax Credits.   Anderson Partners LLC also represented the school in preparing and negotiating a Charter Agreement with CSOTD’s new sponsor, Calumet College of St.Joseph’s.

 


 21st Century Charter School and Gary Middle College

05 06Anderson Partners LLC recently acted as borrowers counsel on a $13.5 million 501(c)(3) bond issue for 21st Century Charter School and Gary Middle College in Gary, Indiana.  The new $6.5 million building will be 50,000 square feet and is two blocks south of the current building, which houses nearly 500 students.  The remainder of the bond proceeds were utilized by the schools to purchase its existing building from GEO Foundation.   This is Anderson Partners second charter school project in Gary in the last twelve months, having closed a $13 million bond and New Market Tax Credit financing for Charter School of the Dunes in July 2012.


South Shore Commons Apartments

07 08Anderson Partners LLC prepared the successful low-income housing tax credit application and acted as legal and financial counsel to South Shore Commons, a 60 unit supportive housing project in Gary, Indiana.  The developers were Daveri Development LLC, NSP Consultants LLC and Broadway Community Development Corporation, with Edgewater Systems for Balanced Living, Inc. acting as sponsor.  Merchants Bank of Indiana and First Merchants Bank, N.A. provided construction financing, while the City of Gary committed HOME funds and the Federal Home Loan Bank made a $750,000 AHP grant to the project.  The project was designed by Jim Smith, AIA, and constructed by Ledcor Construction.  The $11 million project opened to the public in February 2014


 National Rugby Park

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Anderson Partners LLC is acting as legal counsel and financial consultant to Rugby Indiana with respect to the development of a $4.7 million rugby complex on the former home of the Twin Aire drive-in near Fountain Square. Indiana Youth Rugby has raised $1.2 million and plans to break ground once it raises another $500,000. Citizens Energy is donating the 26-acre parcel along Keystone Avenue south of English 11Avenue. Citizens hopes the rugby project helps spark redevelopment on a former coke-plant property it is cleaning up next door.  Terra Site Development is handling design and construction in cooperation with The Architecture Studio.

 

 


STAR Bank


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Anderson Partners recently acted as lender counsel to STAR Bank in documenting and closing a number of projects, including:12

  • The Hinge in the Fountain Square area of Indianapolis, Indiana
  • Linden Square Apartments II in Avon, Indiana
  • TIF Bond financing for Falcon Nest Apartments in Carmel, Indiana

 


 First Merchants Bank, N.A.

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Anderson Partners recently acted as lender counsel to First Merchants Bank, NA in documenting and closing a number of projects, including:

  • 800 North Capital Apartments in Indianapolis, Indiana
  • Gordman’s Foods Warehouse in Monrovia, Indiana
  • Walnut Commons Apartments in Muncie, Indiana
  • Historic Jennings Apartments in New Castle, Indiana

Self Storage at Anson in Zionsville, Indiana


 Church 52 Family Worship Center

17 16Anderson Partners LLC recently closed on the acquisition and financing of a shopping center located in southeast Marion County, Indianapolis, Indiana for Church 52 Family Worship Center, an Assemblies of God congregation.  SEA Group LLC provided site work and AG Financial Services provided financing.

 


 University of St. Francis

1 2Anderson Partners has been engaged as legal and financial counsel to the University of St. Francis in Fort Wayne, Indiana to structure and source financing for its downtown Fort Wayne campus.  The $14 million project will be funded through a combination of New Market Tax Credits, Federal Historic Rehabilitation Tax Credits, Indiana State Community Reinvestment Enhancement District (CReED) Credits and a $3 million grant from the Fort Wayne Legacy Fund.


 Discovery Charter School

3Anderson Partners LLC is working with Discovery Charter School in Porter, Indiana in refinancing existing debt and sourcing additional funds for renovations of existing Four Star School.  Discovery is a Ball State sponsored charter school which opened in 2010 and currently has 485 students.  Discovery also recently acquired an additional 10 acres adjacent to the school through a partnership with the National Parks Service.

 


 Rock City Lofts

5Anderson Partners LLC and its affiliate, AP Development LLC, are partnering with Partnership for Affordable Housing, Inc. and House Investments in the redevelopment of three historic buildings in downtown Wabash, Indiana.  The $6 million Rock City Lofts will create 40 units of affordable senior housing and improved commercial and retail space on the first floor.  The City of Wabash and the Economic Development Group of Wabash County are contributing funds and support to the project.  The City of Wabash is also competing for a Stellar Grant which would support this and other projects in downtown.


Brazil Terrace Apartments

7 6Anderson Partners LLC and its affiliate, AP Development LLC, are partnering with Serving on the Streets, Inc. in the redevelopment of the former Brazil Junior High School in Brazil, Indiana.  The $7 million Brazil Terrace will create 39 units of affordable housing for single parents and their children.  The project also includes the renovation of the original bowl gymnasium as the SOS Community Center.  The City of Brazil is contributing funds and support to the project, which will be funded through the Low Income Housing Tax Credit program.


Scott Block

8Anderson Partners LLC and its affiliate, AP Development LLC, are partnering with Partnership for Affordable Housing, Inc. and House Investments in the redevelopment of three historic buildings in downtown Madison, Indiana.  The $5.5 million Scott Block Apartments will create 31 units of affordable senior housing and improved commercial and retail space on the first floor, which   includes the Red Peppermint and Art on Main.  The City of Madison is contributing funds and parking in support of the project.  The project

 


 Historic Kirkbride

10 11Anderson Partners LLC has been engaged as counsel to Historic Properties, Inc. in the redevelopment of the historic Fergus Falls Treatment Center in Fergus Falls, Minnesota.  Our affiliate, AP Development LLC, will act as co-developer on the project.  The property opened in 1890 and was added to the National Register of Historic Places in 1986.  The hospital had a sprawling campus and large stately buildings, built according to the influential asylum plan developed by Philadelphia physician Thomas Kirkbride in the 1850s.  The massive structure will be redeveloped in phases, commencing with a 60 unit HUD funded housing project.  Upon completion, the project will be truly mixed-use, including housing, hotels and restaurants.


Salin Bank and Trust Company

12 13Anderson Partners acted as lender counsel to Salin Bank and Trust Company in closing a number of projects, including:

  • Madison Avenue Healthcare LLC (acquisition financing)
  • Springhill of Marion, LP  (Section 42 housing)
  • Mark Ide Properties LLC (acquisition of 8 nursing homes)
    • Hoosier Enterprises II LLC and Magnolia Health Systems Inc. (acquisition financing)

 


State Bank of Lizton

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Anderson Partners acted as lender counsel to State Bank of Lizton in closing a number of Projects, including:

  • Ramsey Land Development, LLC (construction financing)
  • The Shoppes, LLC (construction financing)
  • GWC, LLC (construction financing)

 1733 Meridian Apartments

Anderson Partners closed on equity and debt financing for 1733 Meridian Apartments in Indianapolis, Indiana. The project (renovation and restoration of the historic Spink Apartments) was funded through a loan from Merchants Bank and the acquisition of Low Income Housing Tax Credits by Alliant Capital Ltd. Anderson Partners acted as tax credit and developer counsel, and its affiliate AP Development LLC acted as a co-developer of the project with Bates Development LLC and Riley Area Development Corporation.

 

 


South Bend Career Academy

Anderson Partners closed on the first $1.5 million tranche of financing for South Bend Career Academy, a Ball State University charter school. The school opened in August 2011 in a former call center in the Blackthorn Office Park on the northwest side of South Bend. Panzika Building Corporation of South Bend designed and completed the renovations. Utilizing a TIF / IDB structure, the City of South Bend issued its 501(c)(3) bonds for the project and is backed by a $1.5 million pledge of TIF revenue. The TIF bonds are part of a larger $13 million financing structure. The financing, assembled by Anderson Partners, will include additional 501(c)(3) bonds, Qualified Zone Academy Bonds as well as private fundraising.


NNew Communityew Community School

Anderson Partners closed on a $6 million Qualified School Construction Bond (QSCB) for New Community School in Lafayette, Indiana. New Community School is a Ball State charter school originally founded in 1993 and chartered in 2002. After operating in multiple locations, the school will now be housed in a 40,000 square foot former grocery store. Anderson Partners structured and closed the QSCB financing, resulting in a triple net rent to the school of $6 per square foot, a savings of nearly $4 million over traditional financing. QSCBs provide for a direct payment by the US Treasury in lieu of interest by the school. Axis Architecture of Indianapolis designed the renovations, Keystone Construction, also an Indianapolis based company, acted as general contractor. Upper tier financing was provided by Regions Bank.


Riverwalk CommunitiesRiverwalk

Anderson Partners closed on tax credit equity for Riverwalk Communities in Evansville, Indiana. The Liederkranz Building was built in 1911 and has housed a German male singing group in the early 1900s, the Knights of Columbus in 1918, and the Republican Party in 1968. The project consists of 57,972 total square feet, including a 32,000 square foot addition. The Kunkel Group, Inc. is converting the structure to assisted living housing in a resort atmosphere. Anderson Partners brokered the 10% Federal Historic Tax Credits and acted as both developer and tax credit counsel. Prudential Huntoon provided FHA financing. Total project costs are $9 million.


Charter School of the Dunes

Anderson Partners acted as bond, borrower and tax credit/QALICB counsel in closing a $13 million financing for Charter School of the Dunes in Gary, Indiana. Charter School of the Dunes is a Ball State University Charter School that currently serves 400 students in long term “temporary“ classrooms. The financing included $8.3 million in Qualified School Construction Bonds (QSCB) acquired by BMO Harris Bank NA and New Market Tax Credit Equity provided by JPMorgan Chase. National Development Anderson Partners structured and closed the financing package. Strategic Development Solutions provided the New Market Tax Credit allocation. PMLee Companies, a Gary based Project Management, Construction, and Development and Consulting company, will build the school designed by CDM, an international consulting, engineering, construction and operations firm.


Windstream Technologies

Anderson Partners closed on a funding agreement and environmental credits trade agreement for Windstream Technologies, which designs highly efficient micro-wind turbines for urban and off-grid usage. Windstream began operating in the Purdue Technology Park in New Albany, Indiana, and recently started manufacturing Windstream Turbomills in a renovated building in North Vernon, Indiana. Windstream products have been installed on Ralph Wilson Stadium in Buffalo and the US Embassy in Helsinki, Finland. Anderson Partners is working with Windstream on a variety of tax credits and incentives to support production.


Cimmaron Terrace Phase II

Anderson Partners served as counsel to Pedcor Investments LLC and closed equity and debt financing for Cimmaron Terrace Apartments, Phase II. Cimmaron Terrace is a 48 unit new construction affordable housing project located in La Vista, Sarpy County, Nebraska. The Nebraska Investment Finance Authority provided low-income housing tax credits. Wells Fargo National Bank provided equity and debt financing. Five Points Bank provided permanent financing.


Central Apartments

Anderson Partners closed on the financing for the project in late 2010, including equity from the sale of Federal Historic Rehabilitation Tax Credits and Low Income Housing Tax Credits. The apartment complex has thirty-five apartments in the former classrooms of Central School, many of which include features from the schools, including blackboards. The Huntington County Chamber of Commerce along with Central Apartments, LifeStream Services, Inc. and Quality Housing Development held a ribbon cutting with a crowd of over sixty persons attending.


Central Greens

Anderson Partners represented Central Greens LLC, led by Mike Higbee (DC Development Group) and Charlie Garcia (Garcia Construction), in the acquisition of 24 acres at the former Central State Hospital site from the City of Indianapolis. Central Greens is the master redeveloper for the site through a Project Agreement with the City of Indianapolis. Pedcor, a development firm base in Carmel, Indiana, acquired seven acres from Central Greens as part of the same transaction, on which it will build a 60 unit affordable housing project funded by Section 42 Low Income Housing Tax Credits. The development is part of a coordinated redevelopment of the entire Central Greens site of nearly 50 acres.


Bush Stadium

Anderson Partners represented Core Redevelopment LLC, led by long-time Indianapolis developer John Watson, in closing on a project agreement and financing commitment with Develop Indy and the City of Indianapolis. CORE will redevelop Bush Stadium, the historic home of the Indianapolis Indians, into 120 market rate apartments. The project is part of the City’s 16 Tech redevelopment plan for the expansion of the life sciences base on Indiana Avenue and 16th Street.


Waterview Apartments

Anderson Partners acted as developer counsel to Linkmeyer Development, LLC, led by Brian Bischoff, on the closing of the Waterview Apartments project in Lawrenceburg, Indiana.  Waterview is a 64 unit new construction project funded through an allocation of Section 42 Low Income Housing Tax Credits from the Indiana Housing and Community Development Authority.  US Bank National Association is the construction lender, and WNC Capital purchased the credits.  Total project costs are $9 million.


South Shore Commons Awarded Tax Credits

Anderson Partners recently obtained a $1.3 million Section 42 Low Income Housing Tax Credit award from the Indiana Housing and Community Development Authority for South Shore Commons, a 60 units, new construction, and supportive housing project in Gary, Indiana. South Shore Commons is sponsored by Edgewater Systems for Balanced Living, Inc. (a behavioral healthcare services provider in Gary, IN) and co-developed by NSP Consultants LLC and Broadway Area Community Development Corporation. The development team completed the Corporation for Supportive Housing’s Permanent Supportive Housing Institute in 2010. Anderson Partners acted financial and application consultant, and will close the deal as developer and tax credit counsel.


RiverView New Albany

The New Albany City Council approved certifying the proposed River View development as a potential tax-increment financing project. Our client, Mainland Properties is requesting the City approve a $12 million bond for River View that would be paid back with TIF funds from the project. River View is planned as a multi-use development that would be located off Main Street and include retail, office and condominium space. Anderson Partners is leading the finance and development initiatives for the project.


Andrew Academy

Anderson Partners closed on a $3.6 million Qualified School Construction Bond (QSCB) issue for ADI Schools, Inc. in Indianapolis, Indiana. The funds will be used to renovate Andrew Academy, a former Catholic school which was converted to a charter school in 2010. The QSCB structure will result in interest savings of more than $2 million over the life of the bonds. Anderson Partners acted as bond and borrower counsel, and also structured the financing. PNC National Association purchased the bonds.


 Padua Academy

Anderson Partners closed on a $2.6 million Qualified School Construction Bond (QSCB) issue for ADI Schools, Inc. in Indianapolis. The bond proceeds will be used to renovate Padua Academy, another former Catholic school which was converted to a charter school in 2010 like Andrew Academy. The QSCB structure will result in interest savings of more than $1.5 million over the life of the bonds. Anderson Partners acted as bond and borrower counsel, and also structured the financing. PNC National Association purchased the bonds.


Former Whirpool Facility – Park 41 Partners

Anderson Partners represented Evansville-based developer, The Kunkel Group, Inc., in securing and closing financing to purchase most of the former Whirlpool Corp. plant in Evansville, Indiana. Whirlpool Corp. maintained ownership of roughly a quarter million square feet of the 1.5 million square foot facility, including its product development center. Anderson Partners is working with Park 41 Partners and The Kunkel Group, Inc. on additional incentives and tax credits for utilization of the building.


Irvington Community School

Anderson Partners closed on a $1.3 million Qualified School Construction Bond (QSCB) for Irvington Community School, a public charter school located in historic Irvington on the east side of Indianapolis, Indiana. Irvington Community School now occupies the historic Indianapolis Children’s Guardian Home, which was vacated in 2009. The City of Indianapolis has leased the building to Irvington School for its prep academy, and the QSCB proceeds were used to upgrade the historic facility. Salin Bank and Trust Company purchased the QSCB bonds. The financing resulted in an interest rate below 1% and interest savings to the school of nearly $800,000 over the life of the bonds.


Indiana Bank and Trust Company

Anderson Partners acted as counsel to Indiana Bank and Trust Company in closing a $4 million participation in a loan to 16 Park, a low income housing tax credit project in Indianapolis, Indiana. Insight Development and the Indianapolis Housing Agency developed the 155 unit project at 1643 North Park Avenue. Merchants Bank and Salin Bank and Trust Company participated in the financing.


Central Apartments

Anderson Partners acted as developer counsel to Quality Housing Development, Inc. and Lifestream Services, Inc. on the closing of the Central Apartments project in Huntington, Indiana. The project is for individuals 55 and over with rooms from 702 square feet to 1,412 square feet. The project has thirty-five apartments in the former classrooms of Central School, many of which include original features from the school, including blackboards. The project was funded through the sale of Federal Historic Rehabilitation Tax Credits to Great Lakes Capital Fund and Section 1602 Exchange funds from the Indiana Housing and Community Development Authority.


State Bank of Lizton

Anderson Partners acted as lender counsel to State Bank of Lizton in closing a number of real estate projects, including:

  • Millstone Point in Greencastle, Indiana
  • Newbury Point in Edinburg, Indiana
  • Nine North in Richmond, Indiana
  • 16th and Dunn, a student housing project in Bloomington, Indiana.
  • Bradford Park, a tax credit housing project (96 units) in Brownsburg, Indiana developed by Pedcor Investments

 


The Project School – Indianapolis

Anderson Partners closed on $3.5 million in financing for The Project School, a public charter school on the near north side of Indianapolis. The Project School is located in the former National Automobile Factory, which produced the automobile that won the 1912 Indianapolis 500. The school was financed with a combination of a Qualified School Construction Bond (QSCB) and a New Market Tax Credit loan from IFF. The QSCBs were purchased by Old National Bank and carry a blended interest rate of 1.25%, while the New Market Tax Credit loan from IFF is interest only for seven years. The Project School has had a significant impact on the neighborhood, and spurred the development of National Apartments by DC Development Group and the installation of a KaBoom playgound across from the school.


The Project School – Bloomington

Anderson Partners closed on bond and tax credit financing for The Project School, a public charter school in Bloomington, Indiana. Utilizing a $1 million Qualified School Construction Bond (QSCB) and $1.2 million in New Market Tax Credit funding, the Project School transformed an aging municipal building into an education showpiece. Old National Bank purchased the QSCB with an interest rate of .38%, while IFF provided an interest only New Market Tax Credit loan. The City of Bloomington participated through a long term lease on the building to The Project School. Anderson Partners structured the financing and acted as bond counsel.


Herron High School

Anderson Partners LLC acted as bond counsel on a Qualified School Construction Bond (QSCB) financing for Herron High School, a liberal arts based public charter school in downtown Indianapolis. The Herron High School project consists of the renovation of two historic structures on the former Herron Art Museum Campus at the intersection of 16th and Pennsylvania Street. Anderson Partners structured a financing package utilizing $4,284,000 in Qualified School Construction Bonds (QSCB), which provide a direct payment subsidy from the US Treasury for nearly 100% of the interest cost of the QSCB.

Indiana Bank and Trust Company acquired an A Bond of $4,000,000, and Local Initiatives Support Corporation (LISC) acquired a $284,000 B Bond. The project was designed by Ratio Architects, with Brandt Construction acting as general contractor. Herron High School was the first direct pay QSCB transaction closed in the State of Indiana on behalf of a charter school. The financing structured by Anderson Partners will result in interest savings of more than $2.7 million.


Church 52 Family Worship Center

Anderson Partners closed on the acquisition of 10.6 acres located at the corner of Brookville Road/IN 52 and Kitley Road in southeast Marion County, Indianapolis, Indiana for Church 52 Family Worship Center, a newly formed Assemblies of God congregation. Church 52 intends to build a worship center on the site which will serve their growing population. SEA Group LLC provided site work and Downtown / Neighborhood Zoning, Inc. handled rezoning of the site. Anderson Partners worked with Arla Fox of FC Tucker Realty to negotiate and close the purchase.


Sycamore Plaza

Anderson Partners closed a transaction using New Market Tax Credits to bring a new Barnes and Noble Bookstore and offices for the Indiana State University Foundation to downtown Terre Haute.  Representing developer Vermilion Development LLC from Chicago, IL, and 22 N. 5th Street, LLC, the qualified entity for New Market Tax Credits (QALICB) Anderson Partners assisted in structuring as well as closing the complex transaction.  Upper tier funding was provided by the ISU Foundation, the City of Terre Haute (through TIF funds) and the developer, along with New Market Tax Credit equity from Wells Fargo Bank N.A. The transaction utilized the NMTC leverage model to maximize the impact of their investment of $5.5 million of Qualified Equity Investment (QEI) and bridge the financing gap.


 Salin Bank and Trust Company

Anderson Partners acted as lender counsel to Salin Bank and Trust Company on several Section 42 Low Income Housing Tax Credit projects:

  • Katelynn Estates (56 units in Portland, Indiana)
  • Overlook Villas (35 units in Columbia City, Indiana)
  • Amber Woods (50 units in Indianapolis, Indiana)
  • Park Place (79 Units in Terre Haute, Indiana)

 


 

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