ROCHESTER, MN - Dougherty Funding LLC has closed on a $23.8 million construction loan for Commons on Mayowood, which will consist of a five-story, 159-unit apartment property situated on a 2.95 acre site on the edge of the Zumbro River in Rochester, Minnesota. Construction on the project began in 2nd quarter 2016 and is expected to be completed in 3rd quarter 2017.
The property is anticipated to host a wide range of amenities, including access to a walking/biking trail that goes to the Mayo Clinic and shuttle service access for Mayo Clinic employees.
The financing was arranged for Mayowood Commons LLC and Dougherty Funding serves as lead lender and servicer for the loan.
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
Landmark Properties and Manulife Investment Management Start Construction on 259-Unit The Metropolitan on South U in Ann Arbor
Security Properties Completes $51 Million Acquisition of 300-Unit Rosemont West 84th Apartment Community in Denver Submarket
GMH Communities and AEW Capital Acquire Two Student Housing Communities Totaling 926-Beds in Top-Tier University Markets
Ashcroft Capital Completes Acquisition of 360-Unit Birchstone Cedar Ridge Luxury Apartment Community in Dallas-Fort Worth Metroplex
The latest multifamily industry news delivered to your inbox
ANN ARBOR, MI - Landmark Properties, a fully-integrated real estate firm specializing in...
DENVER, CO - Security Properties, the leading real estate investment firm in the Pacific Northwest,...
PHILADELPHIA, PA - GMH Communities, a vertically-integrated real estate company, and AEW Capital...
DALLAS, TX - Ashcroft Capital, a fully integrated multifamily investment firm, announced its...
ATLANTA, GA - Thompson Thrift, a full-service nationally recognized real estate company and one of...
HYATTSVILLE, MD - EJF Capital, a global alternative asset management firm with approximately $5.6...
ORLANDO, FL - Halstatt Real Estate Partners, a real estate private equity firm, announced the...
ATLANTA, GA - Forum Investment Group, a private real estate investment management firm, announced...
The latest multifamily industry news delivered to your inbox.