MINNEAPOLIS, MN - Fritz Waldvogel of Colliers Mortgage has closed a $32.9 million HUD loan for the new construction financing of Deer Park Apartments in Decatur, Texas.
Located in an Opportunity Zone, the 204-unit market-rate multifamily property features one-, two-, and three-bedroom Class A apartment units.
Project amenities include a 24-hour fitness center, business center, community room, swimming pool, parcel/mail center, billiards room, outdoor lounge area, outdoor grills, on-site management, and a dog park/run. Covered parking garage parking is also available.
The loan carries a 40-year term/amortization and was arranged through a partnership with Old Capital Lending for borrower, Deer Park Apts QOZB LLC.
About Colliers Mortgage: Colliers Mortgage is distinctively positioned to help meet our clients’ financing, funding and capitalization needs for the acquisition, refinance, construction, rehabilitation, equity bridge and permanent debt for a multitude of commercial property types nationwide. Our professionals work collaboratively to provide solutions that best fit each client’s unique needs, offering access to federal agency loan programs, commercial finance solutions, and identifying capital sources for capitalization requirements. We also service all loans we originate and are currently servicing more than $14.0 billion of loans.
About Colliers: Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.3 billion and $96 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.