Finance o S Dakota

Dougherty closes $1.5 million refinance loan for South Dakota apartments

Dougherty closes $1.5 million refinance loan for South Dakota apartments,ph01

Dougherty Mortgage recently closed a $5.1 million Fannie Mae loan for the refinancing of Dakota Estates II, a 72-unit market-rate multifamily apartment property in Aberdeen, South Dakota.

The pet-friendly property was constructed in 2018 and offers studio and 1- and 2-bedroom units located in one three-story building. The property also has four garage structures.

Community features include a security system with controlled entries, large common spaces for entertaining and two fitness areas. Apartment amenities include granite countertops, stainless steel appliances, washers and dryers and secure high speed internet.

The 12-year term, 30-year amortization loan was arranged for borrower Dakota Estates II, LLC.