MINNEAPOLIS, MN - The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., recently closed a $12 million Fannie Mae loan for the refinancing of The River, a market rate multifamily housing property constructed in 2020 and located in the downtown area of Mason City, Iowa.
The River’s 133 units are located throughout one four-story apartment building and four two-story townhome buildings, offering one-, two- and three-bedroom apartment homes and two- and three-bedroom townhomes. Each apartment home includes air conditioning, balcony or patio, walk-in closets and washer and dryer. Residents have access to a 24-hour state-of-the-art fitness center, indoor bike storage, underground parking, attached garages on townhomes, a relaxation lounge and a community room. A dog wash room is also part of the pet friendly community.
The 10-year term, 30-year amortization loan was arranged for borrower, The River Mason City, LLC.
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.