DOUGHERTY SECURES $6.4M LOAN FOR PARK PLACE TOWNHOMES IN MANKATO, MINN.

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MANKATO, MINN. — Dougherty Funding LLC has secured a $6.4 million first mortgage acquisition/term loan for the Park Place Townhomes in Mankato. The existing 72-unit townhome property is fully leased. The property includes free on-site parking and an outdoor fire pit and grilling area. Unit amenities include fully equipped kitchens, washers and dryers, Wi-Fi Internet, ceiling fans, granite countertops and decks or patios. Dougherty Funding arranged the loan for the borrower, PPT Mankato LLC. Dougherty Funding served as lead lender and servicer for the loan.

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