MINNEAPOLIS, MN - Zach Shope of the Colliers Mortgage Atlanta office recently closed an acquisition transaction on a two-property market rate multifamily portfolio in Chattanooga, Tennessee that included an assumption of an existing Fanne Mae first mortgage loan and an additional supplemental loan.
The portfolio includes Richwood Townhomes, built in 1968 with 24 units located throughout four 2-story residential buildings, and Seminole Pathe, built in 1925 with 32 units located in one 3-story residential building and a 1-story single family residence that operates as a duplex.
The properties are located within a mile of each other approximately one mile southeast of Chattanooga.
The 8.25-year Fannie Mae Supplemental loan was arranged for East Ridge Flats and Townhomes LLC.
About Colliers Mortgage (Agency Finance and Commercial Finance): 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 in loans.
About Colliers: Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 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 $99 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.