MINNEAPOLIS, MN - The Minneapolis office of Colliers Mortgage closed a $20.9 million HUD loan for the construction of The American Cooperative on Lake Phalen in Maplewood, Minnesota. The 56-unit market-rate cooperative is designed for members 62+ and is located on the north shore of Lake Phalen between Keller and Phalen Regional Parks and golf courses.
Home plans range from two-bedroom/two-bath (1,200 SF) to two-bedroom plus den/two-bath (1,900 SF). Property amenities include a 24-hour fitness...