April 8, 2020
Dougherty Mortgage recently closed a Fannie Mae loan for the acquisition of 2121 Apartments in Arlington, TX. Terms of the financing for the 128-unit market-rate apartment community weren’t disclosed; the borrower was private equity firm Multifamily Property Group.
The 12-year term, 30-year amortization loan was arranged through a partnership with Old Capital Lending. With a mix of one, two and three-bedroom units, 2121 Apartments offers a variety of amenities including a technology lounge and café bar, fitness studio, swimming pool, tennis court and onsite laundry facilities.
The financing for the property at 2121 Washington Circ. represents at least the eighth deal Dougherty has done in the Metroplex year-to-date. Minneapolis-based Dougherty’s Texas offices have arranged loans for properties in Dallas, Fort Worth, Terrell, Grand Prairie, Plano and Irving thus far in 2020, in addition to the 2121 Apartments financing.
For comments, questions or concerns, please contact Paul Bubny