MINNEAPOLIS, MN - The Atlanta, Georgia office of Dougherty Mortgage recently closed an $8.2 million Fannie Mae loan for the acquisition financing of Newberry Parc Apartment Homes, a 132-unit market rate multifamily apartment property located in Louisville, Kentucky.
The Property was constructed in 1971 and renovated in 2017 with the units located in six three-story residential buildings. The Property also has one single-story office/clubhouse building.
The 12-year term, 30-year amortization loan utilized Green Rewards and was arranged for borrower Durham Hill Properties II, 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