Dougherty Mortgage Closes $20M Acquisition Loan for Multifamily Property in Fort Worth

FORT WORTH, TEXAS — Dougherty Mortgage has closed a $20 million Fannie Mae loan for the acquisition of La Jolla Terrace Apartment Homes, a 340-unit market-rate multifamily property located in Fort Worth. The 12-year loan features one-year of interest-only payments and a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va., office for the borrower, Katz La Jolla Terrace LLC.