Dougherty Mortgage Closes $4.3M Loan for 160-Unit Dallas Community

Dougherty’s Minneapolis office arranged the loan for borrower Stonewood Terrace Apartments Ltd.

DallasDougherty Mortgage recently closed a $4.3 million Fannie Mae loan for Stonewood Terrace Apartments, a 160-unit apartment community located in Dallas.

Stonewood Terrace Apartments

Stonewood Terrace Apartments

The Fannie Mae 10-year term, 30-year amortization loan for the property was arranged through Dougherty’s Minneapolis office for borrower Stonewood Terrace Apartments Ltd.

Located at 3872 Dixon Circle, Stonewood Terrace features two-bedroom, 718-square-foot units in 14 two-story buildings. Residential amenities include controlled access, an on-site playground, high-speed internet access, laundry facilities and 320 parking spaces. According to Yardi Matrix data, the community sits on 8.9 acres, or 17.8 units per acre. As of 2016, monthly rents at Stonewood Terrace are $700.

Image courtesy of Yardi Matrix