Dougherty Closes $5.5M Acquisition Loan for Student Housing Property in San Marcos, Texas

SAN MARCOS, TEXAS — Dougherty Mortgage LLC has closed a $5.5 million Fannie Mae loan for the acquisition of Millennium on Post, a 51-unit student housing property in the San Antonio suburb of San Marcos. The property is located at 1651 Post Road, roughly 2.5 miles from Texas State University. Dougherty arranged the 12-year loan through a partnership with Old Capital Lending on behalf of the borrower, 1651 Millennium Post Road LLC.