Dougherty Mortgage recently closed a $3.7 million Fannie Mae loan for the refinancing of The Cottages of Pleasant Hill, a 60-unit market-rate multifamily housing property in Pleasant Hill, Iowa.
The age-restricted property consists of five apartment buildings built in 1995.Amenities include a community room and storage rooms.
The property will continue to be operated as an age-restricted community for tenants ages 55 and older. The 12-year term, 30-year amortization loan was arranged for borrower The Cottages of Pleasant Hill, LLC.
