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Dougherty Mortgage Closes $23.1M Acquisition Loan for Bear Canyon Apartments in Tucson

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Located in Tucson, Ariz., Bear Canyon features 238 market-rate apartment units.

TUCSON, ARIZ. — Dougherty Mortgage has closed a $23.1 million Fannie Mae loan for Bear Canyon, a market-rate apartment complex in Tucson.

The borrower, Tucson M3-13 LLC, will use proceeds of the 10-year loan to purchase the 238-unit property. Additional details of the financing were not released.

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