Dougherty Mortgage recently closed a $6.5 million Fannie Mae loan for the refinancing of Long Lake Villas, a 59-unit multifamily affordable housing property in Stillwater, Minnesota.
The property now consists of 59 units, located throughout seven two-story townhome buildings and three single-story townhome buildings for a total of 10 buildings.
The 12-year term, 30-year amortization loan was arranged for borrower Long Lake Villa Limited Partnership.
