WARWICK – Colliers International Boston’s Capital Markets has arranged a $16 million loan to refinance the 552-unit Briarwood Meadows, allowing owner The Driscoll Co. to refinance existing debt while interest rates remain relatively low.
In a news release, the company said the interest rate was locked in, in advance of the closing, allowing the owners to avoid rising rates during the closing process.
The multifamily community covers 36 acres and has an indoor and outdoor pool, 32 residential buildings and a club house, among other amenities.
Mary MacDonald is a staff writer for the PBN. Contact her at firstname.lastname@example.org.