Finance L Iowa

Dougherty closes $26 million loan for Des Moines apartment

Dougherty closes $26 million loan for Des Moines apartment,ph01

Dougherty Mortgage recently closed a $26.7 million Fannie Mae loan for the refinancing of Soll Apartments, a 165-unit market rate multifamily housing property in Des Moines, Iowa.

The property was constructed in 2018 and includes a four-story apartment building that also includes about 12,996 square feet of retail space located on the ground floor. Property amenities include on-site leasing and management, fitness center, community room, rooftop patio, rooftop pool and spa, and bike storage room/repair.

The 15-year term, 30-year amortization loan was arranged for borrower 2301 Ingersoll LLC.