REBusinessOnline

Colliers Mortgage Provides $40M Refinancing for Multifamily Property in Minneapolis

Stevens Community Apartments consists of 618 units throughout 23 buildings.

MINNEAPOLIS — Colliers Mortgage has provided a $40 million Fannie Mae loan for the refinancing of Stevens Community Apartments in Minneapolis. The 618-unit multifamily property consists of 23 buildings. The asset was constructed in phases from 1913 to 1964 and has been renovated several times. The loan features a 12-year term and a 30-year amortization schedule. Stevens Community Associates LP was the borrower.

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