MANKATO, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, has closed a $6.4 million Fannie Mae loan for the refinance of Park Place Townhomes, a 72-unit multifamily market rate townhome property located in Mankato, Minnesota.
The 18-year term, 30-year amortization loan was arranged by Dougherty’s Minneapolis office, for borrower Park Place Mankato LLLP.
Park Place Townhomes are nestled within the Minnesota River Valley and located adjacent to Hiniker Pond and Park, offering easy access to multiple walking trails. One, two, and three bedroom options are available and include washer and dryer, dishwasher, microwave, ceiling fans, oversized decks and spacious storage. Property amenities include a community fire pit, picnic and grilling area and off street parking.
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