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DOUGHERTY ARRANGES $10.9M HUD LOAN FOR E2 APARTMENTS

ST. LOUIS PARK, MINN. — Dougherty Mortgage LLC has arranged a $10.9 million HUD 223 (f) loan for the refinancing of e2 Apartments, a 58-unit market-rate rental property in St. Louis Park. The apartment community, which is located at 3920 Excelsior Blvd. approximately six miles from downtown Minneapolis, features energy efficient designs with oversized windows. Floor plans range from studios to two-level penthouse plans. Dougherty structured the 35-year loan with a 35-year amortization schedule for the borrower, Ellipse II LLC.

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