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IndianaFinanceMultifamily

Colliers Mortgage closes $14.5 million refinance loan for Northwest Indiana apartments

March 15, 2022
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The Oak Brook, Illinois, office of Colliers Mortgage recently closed a $14.5 million Fannie Mae loan for the refinancing of Gary NSA I & II Apartments in Gary, Indiana. 

The property was built in 1914 through 1928 and includes 249 units in 14 three- and four-story buildings.

The property is a 100% Affordable Housing project covered entirely by a HUD rental HAP contract throughout the loan term.  The loan carries a 10-year term and 30-year amortization and was arranged for Gary NSA 1 & 2 Housing, LLC. 

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