The Minneapolis office of Colliers Mortgage, part of Colliers International, recently closed a $6.4 million Fannie Mae loan for the acquisition financing of Northridge Villas, a 101-unit, market rate multifamily housing property located in Sherman, Texas.
The 12-year term, 30-year amortization loan was arranged through a partnership with Old Capital Lending for 3013 Northridge Villas LLC.
The property was constructed in 1969 and renovated in 2019 and includes 12 two-story apartment buildings and two single-story buildings for the laundry room and leasing office. Amenities at the pet-friendly property include a swimming pool, playground, pet park, on-site laundry facility and on-site maintenance and management.
