The Minneapolis office of Colliers Mortgage closed a $7.4 million Fannie Mae loan for the refinancing of apt on Essex, a 58-unit market-rate multifamily property in Minneapolis, Minnesota.
apt on Essex provides modern, affordable micro-apartment living close to the University of Minnesota’s East Bank and within walking distance to Fresh Thyme grocery store and light rail. The apartment’s studios feature walk-up entry and offer up to 16-foot ceilings, large windows and contemporary amenities.
The loan carries a 10-year term and 30-year amortization and was arranged for J2 Catapult, LLC.
