MinnesotaFinance Dougherty closes $42 million loan for Minnesota multifamily project December 13, 2019 Share on Facebook Share on Twitter Share on LinkedIn Share via email Dougherty Mortgage recently closed at $42.3 million HUD 221(d)(4) loan for the acquisition and new construction financing of Parker Station Flats in Robbinsdale, Minnesota. The project involves the construction of a 198-unit multifamily apartment property with all units rented at market-rate levels. In addition to the HUD First Mortgage, the project will receive Tax Increment Financing from the Robbinsdale Economic Development Authority. The 40-year term, 40-year amortization loan was arranged for borrower Parker Station Flats, LLC.