REBusinessOnline

Dougherty Mortgage Provides $13M Fannie Mae Loan for Little Rock Apartment Community

Among Bowman Pointe's amenities are a 24-hour fitness center, movie theater, conference room, virtual fitness studio, poker and wine lounge, Zen lounge, coffee bar, tanning room and a resort-style pool with cabanas.

LITTLE ROCK, ARK. — Dougherty Mortgage has provided a $13 million Fannie Mae loan that the borrower will use to refinance the third phase of Bowman Pointe, an apartment community located at 3321 S. Bowman Road in west Little Rock. Phase III spans 106 units and was completed last year. The borrower, Bowman Pointe LLC, is an affiliate of Richardson Properties, a local developer and manager of apartment communities, as well as office, retail, industrial and self-storage properties. The 10-year loan features a 30-year amortization schedule. Bowman Pointe is being delivered in four phases. The community’s amenities include late night concierge services, 24-hour fitness center, movie theater, conference room, virtual fitness studio, poker and wine lounge, Zen lounge, coffee bar, tanning room, resort-style pool with cabanas, pet park, outdoor fire pits, bocce ball court, professional putting green, two green areas with grills and picnic tables, garages inside the building, covered parking and an additional mailbox area.

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