Finance W Minnesota
Minneapolis' Dougherty closes first loan under new HUD program

Minneapolis' Dougherty closes first loan under new HUD program

Dougherty Mortgage is the first mortgage banker nationwide to close a project under HUD’s new 221(d)(4) LIHTC pilot program with a $14.8 million loan for the acquisition and substantial rehabilitation of Brooks Landing, a 110-unit age-restricted property, and Brook Gardens, a 60-unit general occupancy property, both of which are located in Brooklyn Park, Minnesota.

Multifamily W Minnesota
Timberland Partners' Southwest Station apartments open in Twin Cities area

Timberland Partners' Southwest Station apartments open in Twin Cities area

Timberland Partners, a privately-owned real estate investment, development and management firm, has announced that Elevate at Southwest Station Apartments in Eden Prairie, Minnesota, is now open. Elevate features 222 studio, one-, two-bedroom and penthouse apartments located steps from the SouthWest Station Metro Transit Center and the planned SouthWest Station LRT stop for the Green Line extension.