MINNEAPOLIS, MN - Dougherty Mortgage recently closed a $5.1 million Fannie Mae loan for the refinancing of Dakota Estates II, a 72-unit market rate multifamily apartment property located in Aberdeen, South Dakota.
The pet-friendly property was constructed in 2018 and offers studio and 1- and 2-bedroom units located in one three-story building. The property also has four garage structures. Community features include a security system with controlled entries, large common spaces for entertaining and two fitness areas. Apartment amenities include granite countertops, stainless steel appliances, washers and dryers and secure high speed internet.
The 12-year term, 30-year amortization loan was arranged for borrower Dakota Estates II, LLC.
Dougherty Mortgage LLC is a full-service, nationwide 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 $6.2 billion of loans. Dougherty Mortgage LLC has also been awarded designation as a lender/partner with USDA under the Community Facilities Guaranteed Loan Program.
Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Georgia, Illinois, Mississippi, Tennessee and Texas.
For more information, please visit www.doughertymortgage.com