MINNEAPOLIS, MN - The Nashville, Tennessee office of Dougherty Mortgage recently closed a $2.6 million second Fannie Mae Supplemental loan for the refinancing of Green Oaks Apartments, a 384-unit market rate multifamily apartment property located in Palos Hills, Illinois.
The garden-style property, constructed in 1965 and rehabbed in 1998, is comprised of a leasing office and a mix of 14 2- and 3-story apartment buildings with some buildings having walk-outs.
The 5-year and 1-month term, 30-year amortization loan was arranged for borrower Green Oaks at Palos Hills LP.
Dougherty Mortgage LLC is a full-service, nationwide mortgage banking firm, an approved FHA MAP and LEAN lender, as well as a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, offering a variety of loan products for the acquisition, refinance, construction or rehabilitation of various property types.
In addition, Dougherty Mortgage LLC provides loan servicing on their mortgages and is an approved Ginnie Mae seller/servicer, currently servicing in excess of $7.1 billion of loans. Dougherty Mortgage LLC has also been awarded designation as a lender/partner with USDA under the Community Facilities Guaranteed Loan Program.
Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Georgia, Illinois, Mississippi, Tennessee and Texas.
For more information, please visit www.doughertymortgage.com