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BLOOMINGTON, Minn. — Colliers Mortgage has originated a $5.6 million HUD 223(a)(7) loan for the refinancing of Realife Cooperative of Bloomington, a 78-unit seniors housing community in Bloomington.
The three-story building includes an underground parking garage. Constructed in 1999, the property is restricted to households whose head of household is 62 years or older.
The 30.7-year refinancing loan enabled the borrower to reduce the interest rate.