MINNEAPOLIS, MI - Dougherty Mortgage LLC, a full service national mortgage banking firm, has arranged a $3.1 million Fannie Mae loan for the acquisition of Crest Oak Apartments, a 60-unit multifamily affordable housing property located in Coon Rapids, Minnesota. The 12-year term, 30-year amortization, 2-year interest only loan was arranged by Dougherty’s Minneapolis office, for borrower Crest Oaks LLC.
Crest Oak Apartments is nestled in a woodland setting, located within blocks of the Coon Rapids dam, beautiful parks, Mississippi trails and just minutes from major highways, public transportation, and great shopping centers.
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 $3.5 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.