MINNEAPOLIS, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, has originated a $14 million HUD 223(f) loan for the refinancing of Creek Point Apartments, a 234-unit market rate apartment property, located in St. Paul, Minnesota.
The 35-year term, 35-year amortization loan was arranged by Dougherty's Minneapolis office for Foxcroft Apartments LLP. As part of this refinance, the borrower intends to conduct moderate renovations to update and reposition the property.
Dougherty Mortgage LLC is a full service mortgage banking firm, an approved FHA MAP and LEAN lender, as well as a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, offering a variety of loan products for the acquisition, refinance, construction or rehabilitation of various property types.
In addition, Dougherty Mortgage LLC provides loan servicing on their mortgages and is an approved Ginnie Mae seller/servicer, currently servicing in excess of $3 billion of loans. Based in Minneapolis, Dougherty Mortgage also has additional offices in Colorado, Texas and Maryland.
For more information, please visit www.doughertymarkets.com