Rebound requests multiple subsidies for 5th Street Lofts project

ABERDEEN, S.D. — Dougherty Mortgage LLC has provided a $5.1 million Fannie Mae loan for the refinancing of Dakota Estates II in Aberdeen. The 72-unit apartment property was constructed in 2018 and offers studio, one- and two-bedroom units within a three-story building. Amenities include common areas for entertaining and two fitness areas. The 12-year loan features a 30-year amortization schedule. Dakota Estates II LLC was the borrower.

A proposed 82-unit apartment complex to be built in Austin will be required to offer units categorized as “affordable” as part of a loan agreement. The apartment complex, known as Flats on 21, is a market rate multifamily housing project to be built at 1310 21st Ave. NW, behind Walmart and Runnings.