MINNEAPOLIS, MN - The Minneapolis office of Colliers Mortgage closed a $18.3 million HUD 221(d)(4) loan for the substantial rehabilitation of Sherman Forbes Housing in St. Paul, Minnesota. The 104-unit, Section 8 multifamily property features one-bedroom and two-bedroom apartment units.
Project amenities include on-site laundry, off-street parking, community playground, community patio, and a leasing office.
In addition to the HUD-insured first mortgage, the project will utilize 4% Low Income...