MINNEAPOLIS, MN – The Minneapolis office of Colliers Mortgage, part of Colliers International | United States, recently completed a $ 12 million Fannie Mae loan to refinance The River, a market-priced apartment building built in 2020 and located in downtown Mason City, Iowa.
The River's 133 units are spread over a four-story apartment building and four two-story townhouse buildings and offer one-, two- and three-bedroom apartment buildings as well as two- and three-bedroom townhouses. Each apartment house has air conditioning, a balcony or terrace, walk-in closets and a washing machine and dryer. Residents have access to a 24-hour, state-of-the-art fitness center, indoor bike room, underground car park, attached garages on townhouses, a relaxation lounge, and a common room. A dog washroom is also part of the pet friendly community.
The 10 year and 30 year amortization loan was arranged for borrower The River Mason City, LLC.
About Collier's Mortgage: Colliers Mortgage, part of Colliers International, is a nationwide full-service mortgage lender, FHA approved MAP and LEAN lender, and a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender specializing in providing access to federal agency lending programs for the acquisition, refinancing, construction or renovation of a wide variety of property types. Colliers Mortgage is also approved as a Lender / Affiliate with the USDA under the Guaranteed Community Facility Loan Program. In addition, as Ginnie Mae's Approved Seller / Service Provider, they provide the loan service for their mortgages and are currently servicing over $ 10.0 billion in loans.
About Colliers International Group Inc. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With offices in 67 countries, our more than 15,000 enterprising professionals work together to provide expert advice to property users, owners and investors. For more than 25 years, our seasoned leader with substantial insider exposure has brought shareholders average annual investment returns of nearly 20%. With annualized sales of $ 3.0 billion ($ 3.3 billion including affiliates) and $ 40 billion in assets under management, we are maximizing real estate and accelerating the success of our clients and our employees. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
source https://seapointrealtors.com/2021/07/26/colliers-mortgage-closes-12-million-fannie-mae-refinance-loan-for-the-river-apartment-community-in-mason-city-iowa/
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