MINNEAPOLIS, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, recently closed a $10,554,700 HUD 223(f) loan for the refinancing of Olympic Ridge Apartments, a 143-unit multifamily market rate rental property located in Eden Prairie, Minnesota.
The 35-year term, 35-year amortization loan was arranged by Dougherty Mortgage's Minneapolis office for the Borrower, Olympic Ridge Limited Partnership.
Olympic Ridge Apartments is professionally managed by Park Avenue of Wayzata, Inc., and offers nine three-story wood-framed walk-up buildings with attached garages, some with individual entrances. Amenities include a whirlpool spa, exercise and party rooms, restrooms with showers, tot lot and volleyball net.
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.