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.
