AMARILLO, TX - Dougherty Mortgage recently closed a $7.3 million Fannie Mae loan for the acquisition financing of Amarillo Portfolio, comprised of two market rate multifamily apartment properties, Lambie Lane Apartments and Park Lane Apartments,contiguous parcels that will operate as one property, located in Amarillo, Texas.
The properties were constructed in 1976 and 1982 and include 217 units throughout ten 1- and 2-story buildings.
The 12-year term, 30-year amortization loan utilized Green Rewards and was arranged through a partnership with Old Capital Lending for borrower AWF Fund I LLC.
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 $6.7 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