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.
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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 macdonald@pbn.com.
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