Finance i Ohio

Dougherty closes $24 million loan for Ohio apartment tower

Dougherty Mortgage recently closed a $24.8 million Fannie Mae loan for the refinancing of Shoregate Towers, a 404-unit market-rate multifamily apartment property in Willowick, Ohio.

The 15-year loan has a 30-year amortization schedule and was arranged through Dougherty’s Minneapolis office for borrower Shoregate Towers NS, LLC.