MINNEAPOLIS, MN - Dougherty Funding LLC has closed a $6.4 million first mortgage acquisition/term loan for the Park Place Townhomes in Mankato, Minnesota.
The existing 72-unit townhome property is currently 100% leased and includes free on-site parking and an outdoor fire-pit and grilling area. Unit amenities include fully-equipped kitchens, washer and dryer, wi-fi internet, ceiling fans, granite countertops and decks or patios.
Dougherty Funding LLC serves as lead lender and servicer for the loan, arranged for PPT Mankato, LLC.
About Dougherty Funding LLC: Since 1996 Dougherty Funding LLC has offered a broad range of commercial finance solutions to real estate developers and corporations nationwide. Dougherty Funding serves as the lead lender in all of their transactions and funds each financing by selling loan participations to an extensive network of banks and institutional lenders throughout the U.S.
For more information, please visit www.doughertymarkets.com