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Colliers Mortgage Secures $26.7M Fannie Mae Loan To Refinance Montreal Courts Apartments In Little Canada
FINANCED
$26,700,000
Minnesota
See Similar DealsMultiFamily
Financed 11/16/2023
FINANCED
Colliers Mortgage Secures $26.7M Fannie Mae Loan To Refinance Montreal Courts Apartments In Little Canada
396 Labore Road
See Similar DealsMultiFamily
Financed 11/16/2023
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Loan
Colliers Mortgage has secured a $26.7 million Fannie Mae loan to refinance Montreal Courts Apartments in Little Canada, a northern suburb of St. Paul. The property, located at 396 Labore Road, is a multifamily asset consisting of 444 units. The loan, a 10-year term, will provide financing for the property's refinancing needs.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,700,000
- Units: 444
- Address: 396 Labore Road, Little Canada, MN
- Market: Little Canada, MN
The loan was facilitated by Ben Fazendin and Tony Carlson from Colliers International, who represented the borrower in securing the financing. Their expertise in the field of real estate brokerage contributed to a successful refinance deal. Colliers Mortgage played a key role in arranging the loan, assisting the borrowers in accessing the necessary funding for Montreal Courts Apartments.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,700,000.00
Monthly NOI$178,000.00
Monthly Debt Service$168,762.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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