MINNEAPOLIS, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, has arranged a $525,000 Fannie Mae Multifamily Affordable Housing Program (MAH) loan for the refinance of The Marquee Apartments, a 34-unit multifamily age restricted affordable housing development located in Phoenix, Arizona.
The newly renovated property is in the heart of the Roosevelt District with convenient transportation options including light rail and bus. Each apartment home includes new appliances, washer and dryer, air conditioning and city views from select homes. Recreational amenities include a swimming pool, clubhouse and picnic area with barbecue. Community Development Partners was the developer for the project and a partner in the ownership entity.
The 14-year term, 30-year amortization loan was arranged by Dougherty’s Minneapolis office for Marquee Affordable Housing Limited Partnership.
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.doughertymarkets.com