DOUGHERTY MORTGAGE CLOSES $14M LOAN FOR APARTMENT COMPLEX IN MINN.

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ST. PAUL, MINN. — Dougherty Mortgage LLC has originated a $14 million HUD 223(f) loan for the refinancing of Creek Point Apartments. The 234-unit market-rate apartment property is located at 1920 Burns Ave. in St. Paul. Dougherty Mortgage arranged the fully amortizing 35-year loan for Foxcroft Apartments LLP. As part of the refinancing, the borrower intends to renovate and reposition the property.

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