LONG BEACH, MS - The Brentwood, Tennessee office of Dougherty Mortgage recently closed a $14.1 million Fannie Mae loan for the acquisition financing of Beach Club, a 220-unit market rate multifamily apartment property located in Long Beach, Mississippi.
The loan carries a 12-year term and 30-year amortization and was arranged for borrower Rutland Apartments, 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 $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, Mississippi, Tennessee and Texas.
For more information, please visit www.doughertymortgage.com