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.
