MINNEAPOLIS, MN - The Minneapolis team of Colliers Mortgage, part of Colliers International | U.S., is pleased to have closed a $1.1 million Fannie Mae Supplemental loan for the Riverbend Manufactured Home Park, a 199-unit market rate manufactured housing property located in Otsego, Minnesota.
The mobile home park was developed in 1972 on approximately 39.23 acres and includes a community building that also serves a severe storm shelter.
The nine-year, one-month term, 30-year amortization loan was arranged for an undisclosed borrower.
About Colliers Mortgage: Colliers Mortgage, part of Colliers International, is a full-service, nationwide mortgage banking firm, approved FHA MAP and LEAN lender and a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, specializing in providing access to federal agency loan programs for the acquisition, refinance, construction, or rehabilitation of a multitude of property types. Colliers Mortgage is also an active participant with the USDA under the Community Facilities Guaranteed Loan Program. Additionally, as an approved Ginnie Mae seller/servicer, we provide loan servicing for our mortgages and currently service more than $10.0 billion of loans.
About Colliers International Group Inc. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.3 billion ($3.6 billion including affiliates) and $45 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.