Dougherty Mortgage Closes $24 Million HUD 223(f) Loan for 289-Unit Tarnhill Apartments

MINNEAPOLIS, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, has arranged a $24 million HUD 223 (f) loan for the refinance of Tarnhill Apartments, a 289-unit market rate rental property consisting of four 3-story apartment buildings located in Bloomington, Minnesota. 

In conjunction with the refinance, the borrower, Tarnhill Associates, LLP, will be completing capital improvements and renovations to the property.  The 35-year term, 35-year amortization loan was arranged by Dougherty’s Minneapolis office. 

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 California, Colorado, Maryland and Texas.

For more information, please visit www.doughertymortgage.com

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