Indiana industrial is anchored by Indianapolis at the I-65 / I-69 / I-70 / I-74 / I-465 highway crossroads, the most highway-connected major metro in the country. Indianapolis International Airport (IND) hosts the second-largest U.S. hub of a major express carrier and ranks in the top ten U.S. cargo airports by tonnage (FAA, 2025). The Plainfield / Whitestown / Greenwood industrial submarkets form one of the most active institutional bulk-distribution clusters in the Midwest, and the Northwest Indiana submarket (Hammond / Gary) functions effectively as a Chicago industrial overflow market with materially lower property-tax loadings.
Active capital sources
- Life Companies
- CMBS Lenders
- Midwest Regional Banks
- National Debt Funds
Loan programs we place
- Bulk Distribution Perm Debt
- Build-to-Suit Construction-to-Perm
- Last-Mile Acquisition Capital
- Industrial Refinance
Frequently asked questions
What LTV is realistic on Indianapolis industrial?
Stabilized institutional bulk distribution in Plainfield, Whitestown, or Greenwood typically clears 60% to 70% LTV through life companies and CMBS; debt yields of 8.5% to 10.0% effectively size most highly leveraged executions .
Is Northwest Indiana effectively part of the Chicago industrial market?
Functionally yes for the user base, but the lender economics differ. Indiana property taxes are materially lower than Cook County (Tax Foundation state-by-state data, 2024), which supports stronger NOI per square foot and frequently a tighter all-in execution at otherwise identical leverage. The pricing differential is measurable on otherwise comparable product.
Are air-cargo-adjacent build-to-suits financeable?
Yes, the IND air cargo hub adjacency supports a deep construction-lender pool and life-company / CMBS take-out interest for credit-tenant single-tenant net-leased product, particularly long-WALT executions with investment-grade air-freight and e-commerce tenants. Required construction-loan equity is typically in the 25% to 35% range with partial recourse burning off at stabilization.
Are spec construction loans available in Whitestown or Plainfield?
Yes for experienced developers with prior IND completed projects on resume. The construction lender pool narrows materially versus build-to-suit, with debt funds and a few regional banks competing, and required equity is typically 30% to 40% of total project cost. Pre-leasing covenants of 25% to 50% are common before the construction lender will fund the final draws. Sponsor track record specifically in Indianapolis-area bulk distribution, completed projects in Plainfield, Whitestown, Greenwood, or Mt. Interest reserves and contingency line items are typically sized to a 24- to 30-month construction-and-stabilization horizon rather than the headline construction period.