MINNEAPOLIS, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, has originated a $12.1 million loan under the HUD 223(a)(7) program for the refinancing of Minnehaha Senior Living, a 77-unit seniors facility for residents aged 62 and older, located in Minneapolis, Minnesota.
The 40-year term, 40-year amortization loan was arranged by Dougherty's Minneapolis, Minnesota office for Covenire Care Nokomis, LLC. The Minnehaha Senior Living property provides a full spectrum of care options and is located just north of Lake Nokomis and Minnehaha Falls, easily accessible from all areas of the Twin Cities. The property provides affordable housing for 20% of the residents at 50% of the area median income.
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, Maryland and Montana.
For more information, please visit www.doughertymarkets.com