MINNEAPOLIS, MN - Fritz Waldvogel of the Minneapolis office of Colliers Mortgage closed a Fannie Mae loan for a repeat client for the acquisition financing of Southside Village Apartments in Brownwood, Texas.
The 104-unit market rate multifamily apartment property was constructed in 1973 and includes 12 two-story garden-style buildings, a playground, outdoor basketball court, bark-park, grilling area, clothes care center, and 24-hour maintenance.
The loan carries a 30-year term/amortization.
MINNEAPOLIS, MN - Fritz Waldvogel of the Minneapolis office of Colliers Mortgage closed a $9.9 million Fannie Mae loan for a repeat client for the acquisition financing of City Pointe Apartments and Townhomes in Evansville, Indiana.
The 112-unit market rate multifamily apartment property was constructed in 1999 and includes 23 two-story townhouse-style buildings in a gated community with off-street parking in a convenient downtown location.
The loan carries a 10-year term and was arranged.
MINNEAPOLIS, MN - Karen Dubrosky and Frank Hogan of the Minneapolis office of Colliers Mortgage and Colliers Securities, respectively, closed a $10.9 million HUD loan for the acquisition and substantial rehabilitation of the Grand Forks Portfolio in Grand Forks, North Dakota.
The Portfolio is a 182-unit affordable multifamily and senior scattered sites project consisting of three (3) properties. University Square includes 60 multifamily units; Columbia Square East includes 50 senior (62+.
MINNEAPOLIS, MN - The Minneapolis Colliers Mortgage team collaborated to close a $12.5 million HUD 221(d)(4) loan for a repeat client, for the new construction financing of Greenway Apartments, an 86-unit multifamily affordable housing property in Minneapolis, Minnesota. The units will be housed in one five-story building located between 11th Avenue South and 12th Avenue South, directly adjacent to the north side of the Midtown Greenway in the Midtown Phillips neighborhood.
The property will.
MINNEAPOLIS, MN - Jeff Rogers of the Fort Worth, Texas office of Colliers Mortgage closed a $7.3 million HUD 221(d)(4) loan for the new construction financing of Avenue at Sycamore Park in Fort Worth, Texas. Avenue at Sycamore Park will be an affordable multifamily project consisting of 108 units, 91 of which are affordable multifamily units and 17 are market rate units.
Of the 91 affordable units, 10 units are restricted to individuals and families earning 30% or less of the Area Median.