Dougherty Mortgage Closes $13 Million Fannie Mae Loan for Bowman Pointe Phase III

MINNEAPOLIS, MN - Dougherty Mortgage recently closed a $13 million Fannie Mae loan for the refinancing of Bowman Pointe Phase III located in Little Rock, Arkansas. 

Constructed in 2019, Bowman Pointe Phase III is the third phase of a four-phase development and totals 106 units in three 3 buildings, including 50 one-bedroom units, 44 two-bedroom units and 12 3-bedroom units. 

Bowman Pointe has an extensive amenity package including late night concierge services, 24-hour fitness center with PRECOR equipment, movie theater, conference room, virtual fitness studio, poker and wine lounge, Zen lounge, java bar featuring Starbucks, tanning room, Las Vegas resort-style pool with cabanas, pet park, BBQ grills, outdoor fire pits and high-speed internet access at the pool and clubhouse.

All of these amenities are located on Phase I. Phase II has a bocce ball court, professional putting green, two green areas with grills and picnic tables, garages inside the building, covered parking and an additional mailbox area.

The 10-year term, 30-year amortization loan was arranged for borrower Bowman Point, LLC.

About Dougherty Mortgage: 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 $7.1 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.

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