Dougherty Mortgage LLC has closed a $4.5 million Fannie Mae loan to refinance Sibley Cove Apartments, an 81-unit affordable housing complex in Maplewood, five miles north of St. Paul, Minn. Units include washers and dryers, walk-in closets and kitchen appliances. Community amenities include a heated underground parking garage, playground, fitness center and a car wash station. The adjustable-rate loan features a seven-year term and 30-year amortization schedule. The borrower is Sibley Cove LP. Chris Bell and Rania Arja of Ballard Spahr assisted Dougherty Mortgage in closing the million Fannie Mae loan for Sibley Cove Apartments.