Dougherty Delivers Dallas Loan
- Feb 21, 2018
Dominium Apartments has landed $6.6 million in bridge loan financing for its recent acquisition of Rosemont at Timber Creek, a 100-unit affordable apartment community in South Dallas. The unrecorded sale of the property from the previous owner, a subsidiary of Pinnacle, was financed with the fixed-rate loan held by Dougherty Funding, which matures in March 2019, according to Yardi Matrix. The new owner is rebranding the community as the Beckley Townhomes and will also take over management.
Located at 801 Beckleymeade Ave., the property’s 17 one- and two-story buildings are located near interstates 20 and 35 East, providing convenient access in and around Dallas. The community is approximately 10 miles south of the city’s downtown area.
The property offers a mix of two- and three-bedroom, townhouse-style apartments, between 1,106 and 1,256 square feet. Residential amenities include an outdoor swimming pool, clubhouse, laundry facilities and playground. Each apartment includes an attached one-car garage.
Image courtesy of Yardi Matrix