MINNETONKA, MN - Dougherty Mortgage LLC, a full service national mortgage banking firm, recently closed a $32.5 million Fannie Mae loan for the acquisition of The Woodlands of Minnetonka, a 252-unit market rate multifamily apartment property located in Minnetonka, Minnesota.
The pet-friendly property includes a clubhouse, media room, outdoor fireplace, swimming pool and grilling pavilion. Apartments have oversized closets, patios or balconies and in-suite washers and dryers.
The Fannie Mae 12-year term, 5-year interest only, 30-year amortization loan was arranged through Dougherty’s Minneapolis office for borrower, Heartland Minnetonka LLC.
About Dougherty Mortgage: 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 $4 billion of loans. Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Illinois, Tennessee, Texas and Virginia.
For more information, please visit www.doughertymortgage.com.