MINNEAPOLIS, MN - The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., recently closed a $6 million Fannie Mae loan for the acquisition financing of Bent Tree Apartments located in Big Spring, Texas.
The Property was constructed in 1984 and includes 90 units located in 8 two-story buildings with a 24-hour courtesy patrol, covered parking, on-site maintenance, and swimming pool.
The 10-year term, 30-year amortization Fannie Mae loan was arranged for borrower Bent Tree 360, LLC.
About 3CM Multifamily: 3CM Multifamily is a San Antonio based, vertically integrated, private equity real estate company focused on acquiring, repositioning, and operating value-add multifamily properties in select high growth US markets. John Bollinger, CEO of 3CM Multifamily has developed a corporate culture which strongly believes in providing a high-quality product. 3CM Multifamily currently owns and operates a portfolio of Class A & B assets in the South-Central Texas area.
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 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 $8.0 billion of loans.
About Colliers International Group Inc. Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our 14,500 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.