Dougherty Secures Acquisition Loan in Dallas

Dougherty Mortgage closed a $5.3 million Fannie Mae loan for the acquisition of a market-rate community in Dallas. Dougherty’s Minneapolis and Vienna, Va., offices arranged the financing through a partnership with Old Capital Lending.

Woodside Lane Apartments in Dallas
Woodside Lane Apartments in Dallas

Dougherty Mortgage secured a $5.3 million Fannie Mae loan for the acquisition of Woodside Lane Apartments, a 107-unit community in Dallas. The company worked on behalf of TFG Woodside. The 12-year term loan was arranged through a partnership between Dougherty’s Minneapolis and Vienna, Va., offices and Old Capital Lending. The financing has a 30-year amortization schedule.

Located at 9302 Forest Lane, the property features one- and two-bedroom apartments ranging from 570 to 940 square feet, a swimming pool and 230 parking spaces. The six-building community sits less than a mile from Interstate 635. Woodside Lane Apartments offers convenient access to multiple restaurants, shopping centers and schools, including Royal Highlands Shopping Center, Skillman Village Shopping Center, Skyview Elementary School and Bending Oaks High School. T

Earlier this month, Dougherty also closed the acquisition loan for Landon Pointe Apartments, a 276-unit Orlando affordable community.

Image courtesy of Yardi Matrix