ST. PAUL, Minn. — Dougherty Mortgage has arranged a $5.1 million Fannie Mae loan for the refinancing of Riverview Highlands, a 54-unit seniors housing property in St. Paul. The 12-year loan includes a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower Riverview Highlands LLC.
Riverview Highlands is a seniors community for persons 55 an older that offers planned activities and events for residents. The property features underground parking, an exercise room and a community room. Floor plans include walk-in closets, washer and dryer connections, oversized kitchens, vaulted ceilings and fireplaces in some of the units.