Dougherty Mortgage Provides $1.6M Loan for Apartment Property in Minneapolis Suburb

BROOKLYN PARK, MINN. — Dougherty Mortgage LLC has provided a $1.6 million Fannie Mae supplemental loan for a 96-unit multifamily property in Brooklyn Park, approximately 11 miles northwest of Minneapolis. The loan features a 4.5-year term and a 30-year amortization schedule. The Fountains in the Park LLC was the borrower. The capital will be used to fund capital improvements and a partnership recapitalization.