Colliers Mortgage Provides $9.5M Agency Acquisition Loan for East Memphis Apartment Community

MEMPHIS, TENN. — Colliers Mortgage has provided a $9.5 million Fannie Mae loan for the acquisition of Oak Grove Flats, a 163-unit apartment community located at 595 Cadraca Drive in east Memphis. The garden-style property features one-, two- and three-bedroom apartments and features onsite laundry facilities and property management, according to Apartments.com.

Randy Engel of Colliers Mortgage’s Memphis office originated the agency loan on behalf of the borrower, an undisclosed sponsor that is a repeat client of Colliers Mortgage.