Dougherty Mortgage Closes $6.1 Million Fannie Mae Loan for Green Acres Apartment Community in Hermantown, Minnesota

MINNEAPOLIS, MN - Dougherty Mortgage recently closed a $6.1 million Fannie Mae loan for the refinancing of Green Acres, an 83-unit market rate multifamily apartment property located in Hermantown, Minnesota. 

The property was constructed in phases from 1991-2010 and includes 13 residential buildings, 4 garage buildings and 1 maintenance building. 

The 10-year term, 30-year amortization loan was arranged for borrower GMP Living, Inc.

Dougherty Mortgage LLC is a full-service, nationwide 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 $7.1 billion of loans.  Dougherty Mortgage LLC has also been awarded designation as a lender/partner with USDA under the Community Facilities Guaranteed Loan Program.  

Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Georgia, Illinois, Mississippi, Tennessee and Texas.

For more information, please visit www.doughertymortgage.com

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