Colliers Mortgage Closes $20.8 Million Fannie Mae Refinance Loan for 113-Unit Rana Village Apartment Community in Minneapolis

MINNEAPOLIS, MN - The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., recently closed a $20.8 million Fannie Mae loan for the refinancing of Rana Village, a 113-unit market rate multifamily property located in Minneapolis, Minnesota. 

The property was constructed in 2019 and all 113 units are located in one six-story building.  Property amenities include a playground, covered parking, community rooms, fitness center, business center, secure entry, and coin operated laundry. 

The 10-year term/30-year amortization Fannie Mae loan was arranged for borrower, Rana Village, L.L.C.

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 $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 67 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 $3.0 billion ($3.3 billion including affiliates) and $40 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.

TRENDING

Amazon Commits $10.6 Million to Renovate and Build 130 Affordable Homes and Expand Social Services in Nashville Neighborhood NASHVILLE, TN - Amazon announced that it will invest a total of $10.6 million to help build and renovate more than 130 affordable homes in partnership with the Metropolitan Development and Housing Agency (MDHA), and support the social work of the local nonprofit CrossBridge. This commitment is part...

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.