Dougherty Secures Loan for 216-Unit Ohio Community

The mortgage banking firm facilitated $1.2 million in financing for Parkview Apartments, a market-rate property in Columbus. The loan has a 30-year amortization schedule.

Dougherty Mortgage has closed a $1.2 million Fannie Mae supplemental loan for the refinancing of Parkview Apartments, a 216-unit community in the Westland submarket of Columbus, Ohio. The eight-year loan has a 30-year amortization schedule. According to Yardi Matrix data, Wolfe Re Management acquired the asset in late 2015 for $12 million from Crawford Hoying. Oberer Management is the manager of the nine-building asset.  

Located at 5400 Diamond Loch, the property provides access to interstates 70 and 270. Downtown Columbus is within a roughly 15-minute drive. Built in 2000, the property includes 36 one- and 180 two-bedroom units, ranging in size from 753 to 948 square feet. Parkview includes three-story buildings and amenities such as:

  • a fitness center
  • clubhouse
  • swimming pool
  • 520 parking spaces
  • waterscape

At the end of last year, Dougherty Mortgage also closed a $24.8 million Fannie Mae loan for the refinancing of Shoregate Towers, a 404-unit property in Willowick, Ohio.

Images courtesy of Yardi Matrix