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COTTONWOOD, ARIZ. — The Orange County, Calif, office of Colliers Mortgage, part of Colliers International, has closed two separate Fannie Mae loans totaling $33.1 million for the refinancing of a three-property apartment portfolio in Cottonwood.
Totaling 340 units and constructed between 1985 and 1999, the portfolio includes Mountain View Villa Apartments, Rio Verde Apartments and Sagewood Apartments.
The loans utilized Green Rewards and both carry 10-year terms and 30-year amortization schedules. The borrowers are Mountain View Villa Partners and Cottonwood Investment Group One.