Minneapolis-based Dougherty Mortgage recently closed several commercial loans for multi-family properties.
The company closed a $3.115 million loan for the refinance of the Ridge Apartments, a 48-unit market-rate multi-family apartment property located in West St. Paul, Minn. The 10-year term, 9.5-year yield-maintenance loan was arranged for Imperial Ridge Apartments LLL by Dougherty.
Dougherty closed, too, a $47.24 million loan for the refinancing of River Crossing, a 313-unit affordable- and market-rate multi-family apartment property in St. Paul, Minn. The 35-year term, 35-year amortization loan was arranged for Gateway Apartments Limited Partnership.
Dougherty also closed a $2.725 million loan for the refinance of Olive Pointe Apartments, a 64-unit market-rate multi-family apartment property in Olivette, Mo.
