Dougherty Provides $34.2M Construction Loan for Apartment Complex in Minneapolis

Bassett Creek Apartments will include 139 units.

MINNEAPOLIS — Dougherty Mortgage LLC has provided a $34.2 million HUD 221(d)(4) loan for the construction of Bassett Creek Apartments in Minneapolis. The six-story apartment building will comprise 139 units as well as an underground parking garage and 3,670 square feet of retail space. The project includes a mix of studios, one- and two-bedroom units as well as six penthouse units. The 40-year loan is fully amortizing. BC East LLC was the borrower.

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