HOT SPRINGS, AR - Dougherty Mortgage’s Minneapolis office recently closed a Fannie Mae loan for the acquisition financing of Chapel Ridge, an 88-unit market rate multifamily apartment property located in Hot Springs, Arkansas.
The pet friendly property offers 1-, 2-, and 3-bedroom floorplans. Community amenities include a swimming pool, playground, clubhouse and laundry facility.
The 10-year loan has a 30-year amortization schedule and was arranged through a partnership with Old Capital Lending for borrower Quicksilver BV, LP.
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 $5.3 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, Tennessee and Texas.
For more information, please visit www.doughertymortgage.com