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 through a partnership with Old Capital Lending for borrower, CPE202, LLC.
About Colliers Mortgage: Colliers Mortgage, part of Colliers | U.S., 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 for a multitude of property types. Colliers Mortgage also holds designation as a lender/partner with the USDA under the Community Facilities Guaranteed Loan Program. Additionally, as an approved Ginnie Mae seller/servicer, they provide loan servicing for their mortgages and currently service in excess of $10.0 billion of loans.
About Colliers: Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 63 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.5 billion and $81 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.