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Dougherty Mortgage Closes $5 Million Fannie Mae Loan for Remington Park Apartments

MINNEAPOLIS, MN – The Nashville, Tennessee office of Dougherty Mortgage recently closed a $5 million Fannie Mae loan for the acquisition financing of Remington Park Apartments, a 108-unit market rate multifamily apartment property located in Siloam Springs, Arkansas. 

The property was constructed in 2003 and is comprised of 36 one-bedroom units and 72 two-bedroom units throughout ten two-story buildings. The property offers a community swimming pool, ample parking, and a clubhouse. 

The 7-year term, 30-year amortization loan was arranged for borrower CW Remington Park Apartments 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