MINNEAPOLIS, MN - Christopher Fenton and Catherine Eby of the seniors housing team of Colliers Mortgage, in conjunction with Nick Skarich and Kevin McMahon of Colliers Funding, closed a $21.6 million construction loan for the development of an independent/assisted living and skilled nursing community in Michigan.
The 105-unit community will feature a combination of studio, one-bedroom, and two-bedroom units. Project amenities include a main dining room, bistro, lounge, and large community spaces.
The term of the loan is 48 months with one twelve-month extension option.
About Colliers Mortgage: 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 is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.3 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, X @Colliers or LinkedIn