ST PAUL, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, has closed a $9.5 million HUD 223(f) loan for the refinancing of Crosby Pointe Apartments, a 73-unit multifamily 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 borrower, Crosby Pointe, LLC.
The Crosby Pointe Apartments property is professionally managed by Real Estate Equities, LLC, and offers an outdoor pool, fitness center, and underground parking garage. Units are currently being upgraded to include stainless steel appliances, granite countertops, and new finishes.
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 $3.5 billion of loans. Based in Minneapolis, Dougherty Mortgage also has additional offices in California, Colorado, Tennessee, Texas and Virginia.
For more information, please visit www.doughertymarkets.com