TX Community Lands Fannie Mae Refi
Dougherty Mortgage arranged the financing for Tribecca Pointe Apartments, a 178-unit property in Hurst, Texas. The 12-year loan has a 30-year amortization schedule.
By Laura Calugar
The Tribecca Pointe Apartments in Hurst, Texas
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. Â
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. Â Â
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.Â
Image courtesy of Yardi Matrix
