MINNEAPOLIS, MN - Dougherty Mortgage recently closed a $14.9 million Fannie Mae loan for the refinancing of Westcreek Townhomes, a 220-unit multifamily affordable housing property located in San Antonio, Texas.
The Property was constructed in 2001 and units are located throughout 33 two-story townhome-style apartment buildings and one three-story townhome-style apartment building. The Property also includes a single-story leasing office/clubhouse building and a single-story laundry facility for a total of 36 buildings.
The 12-year term, 30-year amortization loan was arranged for borrower Westcreek Townhomes, Ltd.
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