Dougherty Mortgage LLC has originated a $14 million HUD 223(f) loan for the refinancing of Creek Point Apartments, a 234-unit market-rate apartment property in St. Paul, Minn.
The 35-year term, 35-year amortization loan was arranged by Dougherty’s Minneapolis office for Foxcroft Apartments LLP. As part of this refinance, the borrower intends to conduct moderate renovations to update and reposition the property.
