Skip to content
Homepage
  • Market
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Sector
    • CRE
    • Education
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Events
  • Real Estate Awards
  • Subscribe
  • Publications
MinnesotaFinance

Dougherty closes $34 million loan for Minneapolis apartment development

August 21, 2019
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Dougherty Mortgage recently closed a $34.2 million HUD 221(d)(4) loan for the new construction of Bassett Creek Apartments, a 139-unit market rate multifamily apartment property in Minneapolis.

The project will consist of one six-story apartment building with an underground parking garage, as well as 3,670 square feet of retail space on the main level. The project’s unit mix will include 39 studio units, 25 alcove units, 54 one-bedroom units, 13 two-bedroom units, two two-bedroom + den penthouse units and six three-bedroom penthouse units.

The project will be constructed to LEED-H Midrise Standards, which qualifies it for the reduced MIP rate of 0.25 percent. The 40-year term, 40-year amortization loan was arranged for borrower BC East, LLC.

Tags
Dougherty MortgagefinanceMinneapolisMinnesotamultifamily
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
MissouriMultifamily

MBG targets 2026 completion for Wentzville’s Autumn Hollow Apartments

July 16, 2025
TexasOffice

JLL closes sale of 200,000-square-foot office building in The Woodlands

July 16, 2025
IllinoisCRE

Beacon Capital Partners, Trammell Crow Company deliver Hyde Park Labs in Chicago

July 16, 2025
MinnesotaCRE

Northwoods Battered Women’s Shelter wraps construction on $2.7 million facility in Bemidji

July 16, 2025

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Education
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Events
  • Office Locations
  • Advertise
  • Terms and Conditions
  • Contact
© 2025 REjournals.com