MINNEAPOLIS, MN – The Minneapolis office of Colliers Mortgage has closed an $18.7 million HUD 213 loan for new construction financing at Village Cooperative of Chatfield in Littleton, Colorado. The 55-unit age-limited co-op is the 20th village co-op for which Colliers Mortgage (and previously Dougherty Mortgage) has provided new construction financing under Section 213.
Village Cooperative of Chatfield will provide a new homeownership option for active adults (62+) in Littleton, an award-winning ’10 Best Places to Live’ town. The homes will range in size from approximately 890 square feet to over 1,700 square feet on one level in a three-story building built over secure parking. Standard features of the Chatfield Village Co-op will include a community space with full kitchen, club room, fitness room, reading areas, boutique/recreation room, guest suite, garden plots, heated underground parking, the all in a fully secure building. Homes are equipped with all appliances, including a private washer and dryer, as well as in-home storage, walk-in closets, and individually controlled HVAC systems to ensure your comfort year-round .
The loan has an amortization period of 40 years and was arranged for Village Cooperative of Chatfield.
About Colliers Mortgage: Colliers Mortgage, part of Colliers | US, is a national full-service mortgage banking company, an FHA MAP and LEAN approved lender, and a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, specializing in accessing federal agency lending programs for the acquisition, refinancing, construction or rehabilitation for a multitude of types of property. Colliers Mortgage also holds Lender/Partner designation with the USDA under the Community Facilities Guaranteed Loan Program. Additionally, as an authorized Ginnie Mae salesperson/repairer, they provide lending services for their mortgages and currently service over $10.0 billion in loans.
About Colliers: Colliers (NASDAQ, TSX: CIGI) is a leading diversified investment management and professional services firm. With operations in 62 countries, our 17,000 enterprising professionals work together to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant internal ownership has generated 20% compound annual returns for shareholders. With annual revenues of $4.3 billion and more than $65 billion in assets under management, Colliers maximizes the potential of properties and real estate assets to accelerate the success of our clients, investors and associates. For more information, visit corporate.colliers.com, Twitter @Colliers or LinkedIn.