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.

Brookside Apartment Homes in Arlington, Texas
Brookside Apartment Homes in Arlington, Texas

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