Colliers Mortgage Closes Fannie Mae Loan for Southside Village Apts in Brownwood

Fritz Waldvogel of the Minneapolis office of Colliers Mortgage closed a Fannie Mae loan for a repeat client for the acquisition financing of Southside Village Apartments in Brownwood, Texas. The 104-unit market rate multifamily apartment property was constructed in 1973 and includes 12 two-story garden-style buildings, a playground, outdoor basketball court, bark-park, grilling area, clothes care center, and 24-hour maintenance.

The loan carries a 30-year term/amortization and was arranged through a partnership with Old Capital Lending for borrower, The Magnolia on 4th, LLC.