MINNEAPOLIS, MN - Frank Hogan of the Minneapolis office of Colliers Mortgage closed a $3.24 million HUD loan for the 223(f) refinance of Ewing Square Townhomes in Brooklyn Center, Minnesota. The 23-unit affordable property features three- and four-bedroom townhome units all covered by a Project-Based Section 8 HAP Contract.
Project amenities include a playground and clubhouse/leasing office with a business center.
The loan carries a 35-year term/amortization and was arranged for borrower, Ewing Square Acquisition Partners, LP, an affiliate of Vitus Group, LLC.
About Colliers Mortgage (Agency Finance and Commercial Finance): Colliers Mortgage is distinctively positioned to help meet our clients’ financing, funding and capitalization needs for the acquisition, refinance, construction, rehabilitation, equity bridge and permanent debt for a multitude of property types nationwide. Our professionals work collaboratively to analyze and uncover the best options available for each client’s unique needs, by offering access to federal agency loan programs, commercial finance solutions, and in identifying capital sources for capitalization requirements. We also service all loans we originate and are currently servicing more than $10.0 billion in loans.
About Colliers: Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 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.