Colliers Arranges $17M Construction Loan for MXU Project in Maine
Colliers International has arranged $17 million in construction financing for a mixed-use development in Portland, ME.
The half-acre development site is located at 75 Chestnut St. in Portland. Upon completion, the property will consist of a mix of 54, one- and two-bedroom condominiums as well as two ground-floor commercial space. The residential units will feature high-end interior finishes, large kitchens and attached balconies with views of downtown Portland and Back Cove. Construction is slated to commence prior to year-end and continue through early 2022.
Jeff Black, Sean Burke and Bryan Koop of Colliers secured the financing on behalf of the borrower, The Procopio Cos. The lender was not disclosed.
For comments, questions or concerns, please contact David Cohen