Dougherty Closes $12M HUD Loan for OH Community

Dougherty Mortgage LLC, a national mortgage banking firm, recently closed a $12 million HUD 223(f) loan for the refinancing of the 128-unit Meadow View Townhomes in Goshen, Ohio. The loan has a 35-year term and amortization schedule. Dougherty’s Minneapolis office arranged the loan for borrower Goshen Leased Housing Associates I LLLP, a Minnesota limited liability limited partnership. Dominium Development & Acquisition, a developer and owner of multifamily properties, is the sponsor of the project.

Located at 100 Country Lake Drive, the property is approximately 30 miles from downtown Cincinnati. Dominium took over ownership and management duties in early 2015. Built in 1994, the community features a fitness center, a swimming pool and several picnic areas. All units are restricted to residents earning 60 percent or less of the area’s median income.

Earlier this month, Dougherty closed a $15.3 million HUD 223(f) loan for the refinancing of Olive Branch Townhomes in Batavia, Ohio.

Images courtesy of Meadow View Townhomes website