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Colliers arranges $69.3M refinance for Missoula multifamily property

The $69.3 million loan for Snowfarm Apartments is interest-only, has a seven-year term, and carries a fixed 5.4% rate.

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Colliers’ Debt & Structured Finance arranged a $69.3 million refinance for Snowfarm Apartments, a 252-unit multifamily property in Missoula, Montana, according to ConnectCRE.

The financing was placed through Fannie Mae and marked the first transaction executed using Fannie Mae’s Streamlined Treasury Lock Program, the outlet said.

ConnectCRE reported that the loan is structured as interest-only with a seven-year term and a fixed interest rate of 5.4%, with Jonathan Lee and Shahin Yazdi, Executive Managing Directors at Colliers, arranging the deal on behalf of the borrower, Roundhouse.

Snowfarm is described as a newly constructed apartment community minutes from downtown Missoula, offering studio, one-, two-, and three-bedroom layouts, and designed with architecture by Minarik Architecture and landscape work by WGM Group.

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