Colliers Mortgage Minneapolis office closes $7 million loan from Fannie Mae for East Point Village apartments in Morris, Minnesota
MINNEAPOLIS, MN – The Minneapolis office of Colliers Mortgage, part of Colliers International | US, recently secured a $7 million loan from Fannie Mae to finance the acquisition of East Point Village Apartments located in Morris, Minnesota.
The 61-unit, market-priced, multi-family property was built in 2017 and is located across from the University of Minnesota Morris and nearby shopping and dining. Amenities at the property include a community room, fitness center, and chill-out deck with gas grills.
The loan has a 10 year term and 30 year amortization and was arranged for CJK Investments II, LLC.
About Colliers Mortgage: Colliers Mortgage, part of Colliers International, is a national full-service mortgage banking company, an FHA MAP and LEAN approved lender and a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, specializing in in access to federal agencies loan programs for the acquisition, refinancing, construction or rehabilitation of a multitude of types of property. Colliers Mortgage also holds Lender/Partner designation with the USDA under the Community Facilities Guaranteed Loan Program. Additionally, as an authorized Ginnie Mae salesperson/repairer, they provide lending services for their mortgages and currently service over $10.0 billion in loans.
About Colliers International Group Inc. Colliers (NASDAQ, TSX: CIGI) is a leading diversified investment management and professional services firm. With operations in 65 countries, our more than 15,000 enterprising professionals work together to provide expert advice to occupiers, owners and property investors. For more than 26 years, our experienced leadership with significant insider ownership has generated compound annual returns of nearly 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 billion in assets under management, we are maximizing real estate potential and accelerating the success of our customers and our staff. Learn more about company.colliers.comTwitter @Colliers or LinkedIn.