MINNEAPOLIS, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, has arranged a $13.5 million HUD 213 loan for the construction of Applewood Pointe Cooperative of Shoreview, a 77-unit new construction senior cooperative property located in Shoreview, Minnesota. The 40-year term loan was arranged by Dougherty’s Minneapolis, Minnesota office, for borrower Applewood Pointe Cooperative of Shoreview.
The cooperative site is located in a Ramsey County suburb with nearby connections to major transit corridors and retail areas along Highway 96. This is the fifth cooperative construction loan financed by Dougherty Mortgage LLC for United Properties.
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, Tennessee, Texas and Virginia.
For more information, please visit www.doughertymarkets.com.