Dougherty Mortgage Closes $18M HUD Construction Loan for Central Florida Apartment Community
DAVENPORT, FLA. — Dougherty Mortgage LLC has closed an $18 million HUD 221(d)(4) loan for the construction of The Portofino at Champions Gate, a 120-unit apartment community in Davenport. The property will be built within the Champions Gate area of the city. The community will include one-, two- and three-bedroom units with attached garages. Community amenities will include a clubhouse with a fitness center, pool area with hot tub, a business center, volleyball court and a car wash. Dougherty Mortgage’s Minneapolis office arranged the loan on behalf of the borrower, Portofino at Champions Gate LLC.