Fritz Waldvogel of the Minneapolis office of Colliers Mortgage closed a $9.9 million Fannie Mae loan for a repeat client for the acquisition financing of City Pointe Apartments and Townhomes in Evansville, Indiana.
The 112-unit market-rate multifamily apartment property was constructed in 1999 and includes 23 two-story townhouse-style buildings in a gated community with off-street parking in a convenient downtown location.
The loan carries a 10-year term and was arranged through a partnership with Old Capital Lending for borrower, CPE202, LLC.