Multifamily W Minnesota

Dougherty Mortgage closes $9.5 million refinance loan for 73-unit apartment property in St. Paul

crosby

Dougherty Mortgage has closed a $9.5 million HUD 223(f) loan for the refinancing of Crosby Pointe Apartments, a 73-unit multifamily market-rate apartment property in St. Paul, Minnesota.

Dougherty Mortgage has closed a $9.5 million HUD 223(f) loan for the refinancing of Crosby Pointe Apartments, a 73-unit multifamily market-rate apartment property in St. Paul, Minnesota.

The 35-year term, 35-year amortization loan was arranged by Dougherty's Minneapolis office for borrower Crosby Pointe, LLC.

Units in the complex are now being upgraded to include stainless-steel appliances, granite countertops and new finishes.