Colliers International Arranges $175M Loan for Granada Highlands in Malden

MALDEN, MASS. — Colliers International has arranged $175 million in financing for Granada Highlands, a multifamily community in Malden. The loan will be used to pay off existing debt and the completion of unit renovations and upgrades, plus the construction of an additional 236 units. Situated on 41 acres, Granada Highland currently includes 919 units in 13 buildings. Once the expansion is complete, the property will feature 1,155 units in 15 buildings and upgraded amenities, including a fitness center, business center, media room, outdoor resort-style pool with cabana, basketball courts, tennis courts and professionally landscaped grounds. John Broderick and Kevin Phelan of Colliers secured the financing for the borrower, Metropolitan Properties of America, through JP Morgan Chase.