September 17, 2021

MP Now News

Mortgage News

Colliers Mortgage Closes $20.8 Million Fannie Mae Refinance Loan for 113-Unit Rana Village Apartment Community in Minneapolis

MINNEAPOLIS, MN – The Minneapolis office of Colliers Mortgage, part of Colliers International | United States, recently completed a $ 20.8 million Fannie Mae loan to refinance Rana Village, a 113-unit market-rate apartment building in Minneapolis, Minnesota.

The property was built in 2019 and all 113 units are in a six-story building. Property amenities include a playground, covered parking, common areas, fitness center, business center, secure entrance and coin laundry.

The Fannie Mae 10 year 30 year amortization loan was arranged for borrower Rana Village, LLC

About Collier’s Mortgage: Colliers Mortgage, part of Colliers International, is a nationwide full-service mortgage lender, FHA MAP and LEAN approved lender, and a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender focused on 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. Additionally, as Ginnie Mae’s approved seller / service provider, they provide the loan service for their mortgages and 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 significant insider exposure has brought shareholders average annual investment returns of nearly 20%. With $ 3.0 billion in annualized revenue ($ 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 company.colliers.com, Twitter @Colliers or LinkedIn.