Dougherty Mortgage Closes Fannie Mae Loan for 212-Unit Sierra Point Apartment Community

IRVING, TX – Dougherty Mortgage LLC, a full service national mortgage banking firm, recently closed a Fannie Mae loan for the acquisition financing of Sierra Point, a 212-unit market rate multifamily apartment property located in Irving, Texas.

The pet friendly property offers 1-, 2-, and 3-bedroom apartment homes. Community amenities include two pools, a clubhouse with fireplace, laundry facility, and free covered parking.

The 12-year loan has a 30-year amortization schedule and was arranged through a partnership with Old Capital Lending and Dougherty’s Minneapolis and Vienna, Virginia offices for borrower Legacy REI Group SP, LLC.

Dougherty Mortgage LLC is a full-service, nationwide mortgage banking firm, an approved FHA MAP and LEAN lender, as well as a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, offering a variety of loan products for the acquisition, refinance, construction or rehabilitation of various property types.

In addition, Dougherty Mortgage LLC provides loan servicing on their mortgages and is an approved Ginnie Mae seller/servicer, currently servicing in excess of $5.3 billion of loans.

Dougherty Mortgage LLC has also been awarded designation as a lender/partner with USDA under the Community Facilities Guaranteed Loan Program. Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Georgia, Illinois, Tennessee, Texas and Virginia.

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