BURLESON, TX - The Mississippi office of Dougherty Mortgage recently closed a $29.7 million HUD 221(d)(4) loan for the new construction financing of The Waverly Apartment Homes, a market rate multifamily housing property located in Burleson, Texas.
Conveniently located minutes from Fort Worth, the property will consist of 192 luxury apartment units and will include a large state of the art clubhouse, resort-style swimming pool with poolside cabanas, outdoor kitchen areas, fire pits, community rooms, business center, WiFi café, 24-hour fitness center, children’s area/playground, tanning beds, car wash/care area, dog park, pet waste stations, central trash compactor, mail center, garages, perimeter fence and access gates. Scheduled completion date is spring 2021.
The loan carries a 40-year term and amortization schedule and was arranged for borrower Burleson Commons, 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 $6.7 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, Mississippi, Tennessee and Texas.
For more information, please visit www.doughertymortgage.com