REBusinessOnline

Dougherty Provides $28.6M HUD Refinancing for Multifamily Property in Minneapolis

The Grain Belt is located on the site of the former Orth and Grain Belt Breweries.

MINNEAPOLIS — Dougherty Mortgage LLC has provided a $28.6 million HUD loan for the refinancing of The Grain Belt, a multifamily property in Minneapolis. The property consists of two buildings and 150 units. Situated on the site of the former Orth and Grain Belt Breweries, the buildings were constructed in 2014. The office/clubhouse was built in 1892 and previously used as the office for the Grain Belt Brewery. The building is listed on the National Register of Historic Places. Dougherty’s Minneapolis office arranged the 35-year, fully amortizing loan for the borrower, Orth-Grain Belt LLC.

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