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Colliers Arranges $175M Loan For Expansion At Malden Apartments

Oct 6, 2014 | Reprints | Unlock Link | Print

Colliers International has arranged a $175-million loan for the Granada Highlands apartment complex in Malden.

The financing will be used to pay off existing debt, complete a renovation project and add 236 units in two new buildings.

The gated community five miles north of Boston contains 919 units in 13 buildings on 41 acres. The property includes a new fitness center, business center, media room, outdoor pool with cabana, basketball and tennis courts.

Senior Vice President John Broderick and Executive Vice President Kevin Phelan of Colliers exclusively represented Metropolitan Properties of America (MPA) to secure the new financing through JP Morgan Chase.

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