Construction Maison

WYOMING, MI - Dougherty Mortgage LLC , a full service national mortgage banking firm , recently closed a $ 1 million Fannie Mae loan for the refinance of Oak Forest Apartments , a 12- unit market rate multifamily apartment property located in Wyoming, Michigan.  The Fannie Mae 10- year term loan has a 30- year amortization schedule and was arranged through Dougherty’s Minneapolis office for borrower Oak Forest Apartments Limited Partnership . 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 $4.8 billion of loans.  Dougherty Mortgage LLC has also been awarded...

Capital One Multifamily Finance provided a $9. 3 million Fannie Mae fixed -rate loan to refinance Lakecrest Apartments , a 225- unit apartment complex in Greenville, South Carolina. Meridian Capital Managing Director Jacob Katz , Senior Managing Director Abe Hirsch , and Managing Director Zev Karpel originated the transaction.  The borrower was PRG Real Estate Management , a repeat Capital One and Fannie Mae client .   PRG owns and manages more than 11,000 apartment homes in over 40 communities.  It purchased Lakecrest in 2006 and has subsequently renovated nearly 200 units, replacing floors and modernizing kitchens and bathrooms, as well as replacing the roofs of six of the community’s residential 22 buildings. The refinancing will allow PRG to continue this program until all apartments are renovated and roofs replaced.   “We were pleased that PRG again chose Meridian and Capital One for its refinancing needs,” Katz said. “The firm’s principals, Steven Berger, Jon Goodman, and S...

CARY, NC -  Capstone Capital announces the recent financing of Amberton at Stonewater Apartments in Cary, NC. The 348- unit community qualified for a non-recourse, Fannie Mae loan program with a loan amount of $37,584,000 with 3 years of interest only at a rate of 4.49%.Construction of this property was completed in 2014 with 1, 2 and 3 bedroom units and many amenities. Jackson Howard represented the borrower through the completion of the financing. Howard states, “Roy Carroll and The Carroll Companies continue to build class A assets across the Carolinas. We are honored to assist in providing a grand total loan volume of $370,000,000 of optimal financing with maximum leverage to fuel this dominant leader in multifamily development”.  Capstone Capital is a seasoned group of commercial mortgage brokers who share a different view on the business. For us, the borrower is more valuable than the lender. We put our best resources in competition to secure the best...