TX Community Lands Fannie Mae Refi
- Feb 15, 2018
Dougherty Mortgage has closed a Fannie Mae loan for the refinancing of Tribecca Pointe Apartments, a 175-unit market-rate property in Hurst, Texas. Arranged through a partnership with Old Capital Lending and Dougherty’s Minneapolis and Vienna, Va. offices, the 12-year loan has a 30-year amortization schedule. According to Yardi Matrix data, Darcop Cos. has owned the asset since 2016 and Walker Holder Residential is serving as property manager.
Located at 601 Brown Trail, Tribecca Pointe provides access to Interstate 820 and is within a 20-minute drive of downtown Fort Worth. Built in 1968, the property includes a mix of one-, two- and three-bedroom apartments, ranging in size from 551 to 1,350 square feet. The 26-building community features a playground, a swimming pool and 300 parking spaces.
Most recently, Dougherty secured $5.1 million in acquisition financing for Wynnewood Gardens in Dallas. The company closed on the 12-year Fannie Mae financing in partnership with Old Capital Lending.
Image courtesy of Yardi Matrix