MAMEL, ARK. Colliers Mortgage made two separate loans to Fannie Mae to refinance Bay Pointe Apartments and Millwood Apartments, two apartment buildings located about 16.6 miles north of Little Rock in Momella. Together, the two loans totaled $ 2.4 million. The borrowers for two refinancing deals were not disclosed.
Built in 1986, the Bay Pointe Apartments complex includes 65 apartments located in four two-story apartment buildings, as well as a one-story residential building. Bay Pointe is located at 400 Valencia Drive and offers one or two bedroom options. Utilities include a business center, swimming pool, parking and a communal room.
The Millwood Apartments, located at 200 Millwood Circle, were built in 1980 and include 96 apartments located in eight two-story apartment buildings. Apartments can be one-, two- and three-room. Utilities include parking, business center, communal room and swimming pool.
Fannie Mae’s loan to Bay Pointe Apartments was just over $ 1 million and has a 15-year maturity with a 30-year maturity schedule. The amount of the loan provided by Millwood Apartments was $ 1.4 million. The loan has a 15-year maturity and a 30-year maturity.