MINNEAPOLIS, MN - The Colliers Mortgage Minneapolis team recently closed a $19.53 million HUD loan for the construction of Artessa Cooperative at Mound Harbor in Mound, Minnesota. The 52-unit market-rate senior cooperative (62+ HOH) features one-bedroom plus den, two-bedroom, and two-bedroom plus den units.
The project includes roughly 6,150 square feet of indoor amenities and nearly 2,000 square feet of outdoor living spaces. Members will have private entrances and distinct aesthetic collections to choose from, making each home unique to each owner.
The loan carries a 40-year term/amortization and was arranged for borrower, Artessa Cooperative at Mound Harbor.
About Colliers Mortgage (Agency Finance and Commercial Finance) - part of Colliers | U.S. 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 of loans.
About Colliers: Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 65 countries, our 18,000 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.