Colliers Mortgage Closes $25.4M HUD 221(d)(4) Loan for The Draper in Garland

The Fort Worth office of Colliers Mortgage (part of Colliers | U.S.) closed a $25.4 million HUD 221(d)(4) loan for the construction of The Draper Apartments, located in Garland. The Draper Apartments will be a 155-unit market rate multifamily project consisting of a mix of studio, one-bedroom and two-bedroom units located near the Garland DART light rail station and within walking distance to retail shops, restaurants, and entertainment venues.

The loan carries a 40-year term and amortization and was secured for GFNT Opportunity II, LP.