Working on behalf of Prasiti 2300 Taylor LLC, Dougherty Mortgage has teamed up with Old Capital Lending to secure the acquisition loan for a 216-unit community in Sherman, Texas. The 12-year term Fannie Mae loan features a 30-year amortization schedule.
Located at 2300 W. Taylor St., the pet-friendly multifamily property consists of one- and two-bedroom apartments ranging from 585 to 950 square feet. The community is situated near Fairview Park and Herman Baker Park and offers convenient access U.S. Route 75 and highways 82 and 289, as well as multiple dining options, including MG’s Restaurant and La Placita Salvadorean Cocina. Additionally, 2300 Taylor is within a few miles from Fairview Elementary School, Wakefield Elementary School and Piner Middle School. Community amenities feature a clubhouse and a swimming pool.
Earlier this year, Dougherty Mortgage also closed a $1.2 million Fannie Mae supplemental loan for the refinancing of a multifamily property in the Westland submarket of Columbus, Ohio.
Image courtesy of Dougherty Mortgage