Multifamily Q Kentucky

Dougherty closes $4 million loan for Kentucky multifamily development

Dougherty closes $4 million loan for Kentucky multifamily development,ph01

Dougherty Mortgage’s Minneapolis office recently closed a $4.1 million Fannie Mae loan for the acquisition financing of Cottages of Frankfort Phase I, a 96-unit multifamily affordable housing property located in Frankfort, Kentucky.

The 10-year term, 30-year amortization loan was arranged for borrower IPI Properties 17 LLC.