103-Unit Apartment Complex in Arlington, Texas Refinances

The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., recently closed a Fannie Mae loan for the refinancing of Villas at the Parks, a 103-unit market rate multifamily property located in Arlington, Texas. The pet-friendly property was constructed in 1983 and includes a 24-hour fitness center, off-street parking, on-site laundry facility, swimming pool, on-site maintenance, controlled access and on-site patrol service. The 12-year term/30-year amortization Fannie Mae loan was arranged through a partnership with Old Capital Lending, for borrower Upper Level Acquisitions III, LLC.