EDEN PRAIRIE, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, has arranged a $5.9 million HUD 223(f) loan for the refinance of the Hills of Eden Prairie, a 37-unit two story townhome property located in Eden Prairie, Minnesota.
The 35-year term loan was arranged by Dougherty’s Minneapolis, Minnesota office, for borrower Venku Family Limited Partnership. This refinance allows the borrower to reduce the interest rate and perform upgrades to the project. The project closed within 101 days of engagement. The property is located on 15 acres surrounded by wooded hills and protected wetlands and is directly adjacent to Bryant Lake Park.
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.