Finance W Minnesota

Dougherty closes $42 million loan for Minnesota apartment community

Dougherty closes $42 million loan for Minnesota apartment community,ph01

Dougherty Mortgage recently closed a $42 million Fannie Mae loan for the refinancing of Loden SV, a 206-unit four-story market-rate multifamily apartment property in Shoreview, Minnesota.

The pet-friendly property was constructed in 2018 and features an onsite leasing/management office, community room with full kitchen, shared conference room, pet grooming area, billiards area, theater room, outdoor green space, fitness center, yoga/fitness room and luxury outdoor pool with grilling areas, cabanas and sundeck.

Unit amenities include floor to ceiling windows, quartz countertops, stainless steel appliances, in-unit laundry and central air. Many units also feature private balconies or patios.

The Fannie Mae loan has a 10-year term and 30-year amortization.