HAILEY, ID - Dougherty Mortgage LLC, a full service national mortgage banking firm, recently closed two Fannie Mae loans totaling $7.2 million for the acquisition of the Balmoral I and Balmoral II apartments, a multifamily affordable housing property located in Hailey, Idaho.
Totaling 192-units, the properties are located near Sawtooth National Forest, Sun Valley ski resort, dining and entertainment, and offer one-, two- and three-bedroom options with washer and dryer connections, spacious interiors, private entrances and patios. Community features include a fitness center and a community clubhouse.
The financing was arranged by Dougherty Mortgage's Minneapolis office for borrowers Balmoral Limited Partnership and Balmoral II Limited Partnership, using Fannie Mae's new Reduced Occupancy Affordable Rehab (ROAR) permanent loan program which was combined with Fannie's 7/4 ARM execution.
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 offices in California, Colorado, Illinois, Tennessee, Texas and Virginia.
For more information, please visit www.doughertymarkets.com