Dougherty Closes $21M Loan for 288-Unit Buy
Dougherty and Old Capital Lending arranged a Fannie Mae acquisition loan for Brookside Apartment Homes in Arlington, Texas. The companies worked on behalf of the borrower.
By Alex Ciorogar
A partnership between Dougherty Mortgage LLC’s Minneapolis and Vienna, Va., offices and Old Capital Lending closed a $20.5 million Fannie Mae loan for the acquisition financing of Brookside Apartment Homes. The 12-year loan has a 30-year amortization period. Both companies worked on behalf of the borrower, DCP 2505 Thomason Circle LLC.
Located at 2505 Thomason Circle in Arlington, Texas, the 229,800-square-foot, 288-unit apartment community features one- and two-bedroom apartments. According to data provider Yardi Matrix, the property is 94 percent occupied. Walker Holder Residential manages the asset.
Interior amenities include washers, dryers, fireplaces and free Wi-Fi. Individual air conditioning and electric heating are among the services provided by the property.
Common area amenities include:
- clubhouse
- clothes care center
- fitness center
- volleyball court
- swimming pool
- laundry facilities
- partial covered parking
- children’s playground
- bark park
- outdoor kitchen
- park and picnic area
Highway 360 is easily accessible from the property and Lake Viridian is a five-minute drive away. Residents can also enjoy a range of nearby restaurants, shops and entertainment centers.
Image courtesy of Yardi Matrix