Colliers Mortgage Provides $21M in Construction Financing for Minneapolis Affordable Housing Property

by Kristin Harlow

MINNEAPOLIS — Colliers Mortgage has provided a $21 million Fannie Mae Forward Conversion loan for the construction of Gateway Northeast in Minneapolis. The 128-unit affordable housing property is situated in the Riverfront District. Amenities include a lounge, business center, rooftop patio, fitness room, dog wash and outdoor patio. CommonBond Communities, a St. Paul-based nonprofit, is the developer. The loan features a 15.75-year term and a 480-year amortization schedule.

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