Dougherty Mortgage Closes $6.7 Loan for San Antonio Community
The mortgage banking firm arranged a 12-year term Fannie Mae loan for the 128-unit Edge Studio Apartments.
By Anca Gagiuc, Associate Editor
San Antonio—National mortgage banking firm Dougherty Mortgage LLC has closed a $6.7 million Fannie Mae loan for the acquisition of Edge Studio Apartments in San Antonio.
The loan has a 12-year term with two years of interest-only and a 30-year amortization. The loan was arranged for borrower Bluemel 2016 LLC through a partnership with Old Capital Lending and Dougherty’s Vienna, Va. office.
The 128-unit market rate multifamily apartment community is located at 4041 Bluemel Road, offering studios, one- and two-bedroom units ranging in size from 464 to 775 square feet. Community amenities include a newly renovated resident lounge, swimming pool, 24-hour fitness center, barbecue and picnic area, business center, laundry facility, hot tub and weekly free continental breakfast. Unit amenities include designer lofts, ungraded interior finishes, stainless steel appliances, fire places in select units and keyless entry.
Image courtesy of Edge Studio Apartments