DALLAS, TX - Dougherty Mortgage LLC, a full service national mortgage banking firm, has arranged an $11 million Fannie Mae loan for the acquisition of Stonehill Terrace, a 301-unit market rate multifamily housing property located in Irving, Texas. The 10-year term, 30-year amortization, 1-year interest only loan was arranged by Dougherty’s Dallas, Texas office, for borrower Urban Stonehill Apartments, LP. This transaction, along with additional capital by the buyer, will allow for upgrades and updates to the property. All Stonehill Terrace homes come with a large balcony, ceiling fans, appliances and free parking. Some units are upgraded with vaulted ceilings and a fireplace. The grounds are equipped with a clubhouse, laundry facilities and a swimming pool.
Dougherty Mortgage LLC is a full service 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 $3.5 billion of loans. Based in Minneapolis, Dougherty Mortgage also has additional offices in California, Colorado, Tennessee, Texas and Virginia.
For more information, please visit www.doughertymarkets.com.