Colliers’ Debt & Structured Finance team has arranged a refinancing package for Snowfarm Apartments, a new multifamily community in Missoula, Montana. The 252-unit property secured $69.3 million in debt, providing long-term fixed-rate financing for the sponsor.
The loan was placed through Fannie Mae and represents the first transaction closed under Fannie Mae’s Streamlined Treasury Lock Program. This execution allowed the borrower to lock in Treasury pricing as part of the process, with the financing ultimately structured as interest-only for the full term.
The refinance features a seven-year term and a fixed interest rate of 5.4%. Colliers arranged the loan on behalf of Roundhouse, which is identified as the borrower in the transaction. The capital stack details beyond the Fannie Mae senior loan were not disclosed, but the agency execution positions the asset with durable, long-term debt.
Jonathan Lee and Shahin Yazdi, Executive Managing Directors with Colliers, led the assignment and coordinated the financing for Snowfarm Apartments. Their role included sourcing and structuring the loan through Fannie Mae’s program and completing the inaugural deal under the Streamlined Treasury Lock structure.
Snowfarm Apartments is described as a newly constructed apartment community located minutes from downtown Missoula. The property offers a mix of studio, one-, two-, and three-bedroom units with upscale finishes. While specific interior features are not itemized, the project is positioned as a higher-quality option within the local rental market based on its design and finishes.
The community benefits from proximity to major amenities and employment drivers in Missoula. The property sits less than one mile from the city’s primary retail hub and is approximately a 10-minute drive from both downtown Missoula and the University of Montana. This location links residents to the region’s main commercial, educational, and cultural centers.
Design for Snowfarm Apartments was handled by Minarik Architecture, which led the architecture for the project. Landscape design was delivered by WGM Group, contributing to the overall look and feel of the community. The article does not disclose the development timeline, construction cost, or lease-up metrics, but the completion of this refinancing establishes long-term permanent financing for the asset.
