MINNEAPOLIS, MN - The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., recently closed a Fannie Mae loan for the acquisition financing of Nova Park Apartment Homes, a 198-unit market rate multifamily apartment property located in Garland, Texas.
The Property was constructed in 1983 and includes 16 two-story garden-style buildings, resort style swimming pool, 24-hour fitness center, clubhouse, business center, coffee cafe, outdoor kitchen with gas grills, bark park, clothes care center, and covered parking.
The loan carries a 10-year term and 30-year amortization and was arranged through a partnership with Old Capital Lending for TS Asset Nova, 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 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners, and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 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.