Colliers Mortgage Provides $29M HUD-Insured Refinancing of Multifamily Property in DeSoto, Texas

DESOTO, TEXAS — Colliers Mortgage has provided a $29 million HUD-insured loan for the refinancing of The Beacon on Westmoreland, a 194-unit multifamily property in DeSoto, a southern suburb of Dallas. The complex was completed in 2021 and consists of seven residential buildings and a leasing office/clubhouse. Amenities include a pool, fitness center, dog park and walking trails. Fritz Waldvogel of Colliers Mortgage originated the 35-year loan through a partnership with Old Capital Lending. The borrower was not disclosed.