Colliers Mortgage Establishes $8.9M Refinancing for Northside Townhomes in Spartanburg, South Carolina

In a significant real estate transaction, Colliers Mortgage has secured a significant refinancing package of $8.9 million for Northside Townhomes located in vibrant Spartanburg, South Carolina. This bold move underscores the robust financial health of the local housing market.

Property Details

Northside Townhomes is a sizeable and modern residential complex, complete with 47 exclusive three-bedroom townhome units. The community offers an array of amenities and features, making it an attractive choice for residents in the Spartanburg region.

Some of the unique features available at the townhome community include select units with attached garages, ample off-street parking, and walking access to the popular local attraction – the Hub City Farmers Market. The Farmer’s Market is a common gathering place for locals looking to source fresh produce and artisanal goods.

The Financing Details

The 35-year financing package was led and successfully originated by Bill Mattice and Phillip Cox from Colliers Mortgage. They brought this deal to fruition on behalf of the borrower, doing business as Spartanburg RE Investments LLC.

A Closer Look at Spartanburg Real Estate

The City of Spartanburg, located in northern South Carolina, has been increasingly attracting notice for its progressive real estate market. With its appealing southern charm, the city offers a range of diverse housing options from quaint single-family homes to modern townhome units and apartments. The securing of such a significant refinancing package for Northside Townhomes is a testament to the city’s thriving real estate sector.

The City’s growth objectives aim to maintain community sustainability, support local businesses, and ensure that housing remains affordable for all residents. The vibrant real estate market, coupled with planned and targeted developments, have contributed to Spartanburg’s emerging prowess in the housing sector. The recent refinancing deal from Colliers Mortgage underlines the interest from investors, developers, and financiers in supporting the growth and stability of Spartanburg’s real estate scene.

The Role of Colliers Mortgage

As one of the leading full-service global real estate firms, Colliers Mortgage has a reputation for comprehensive and deep knowledge of the housing market. This transaction showcases their ability to efficiently secure refinancing for multifamily properties in a time of dynamic market conditions. Their proven diligence and expertise have played a critical role in advancing the real estate investment landscape in Spartanburg and beyond.

As Spartanburg real estate continues to show signs of strong growth, more investments, refinancing, and development deals are expected in the region. Keep an eye on further news updates and trends from HERE News Network, your trusted source of fresh and accurate real estate news.